GBP/AUD Up 11 Pips On Hourly Chart, 5 Day Down Streak Ended; in a Downtrend Over Past 14 Days

Hourly Update

(Last Updated June 6, 2022 1:43 GMT)

Currently, GBPAUD’s rate is up 11 pips (0.06%) from the hour prior. This is the 2nd consecutive hour GBPAUD has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

GBPAUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

A moment of silence, please, for the end of GBPAUD’s 5 day down streak; price ended yesterday up 15 pips (0.09%) to finish the day at a rate of 1.73219. Relative to other instruments in the Forex asset class, GBPAUD ranked 19th yesterday in terms of percentage price change. Below is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

Coming into today GBPAUD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. As for the alignment of the moving averages, well, it’s a bit mixed up; the 20, 50, 100, and 200 do not progress from largest to smallest, or vice versa. The closest is the 50 day average, which is 261.3 pips away. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 8 out of the past 14 days.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPAUD; just 3 sell signals and 2 buy signals. This imputes a buy/sell ratio of 0.67, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

GBPAUD is currently at a short demand take in zone to our POI (point of interest) which may gab with a few pips to cover our take in around 1.73541 selling off to our hidden orderblock in 1.72943 & 1.72847Disclaimer : I am not a financial advisor, everything I’ll be sharing is how I trade personally.Ensure to make your own analysis.