GBP/AUD Up 9 Pips On 4 Hour Chart, Makes Big Move Relative to Past Month; Entered Today Up For the 8th Day In A Row

GBP/AUD 4 Hour Price Update

Updated July 31, 2020 05:08 AM GMT (01:08 AM EST)

The back and forth price flow continues for GBP/AUD, which started the current 4 hour candle off at 1.8218, up 9 pips 0.05% from the previous 4 hours. Relative to other instruments in the Forex asset class, GBP/AUD ranked 15th the previous 4 hours in terms of percentage price change.

GBP/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBP/AUD is up 22 pips (0.12%) since the previous day (opening today near 1.82223), marking the 8th day in a row it has gone up. Relative to other instruments in the Forex asset class, GBP/AUD ranked 12th the previous day in terms of percentage price change. Below is a price chart of GBP/AUD.

GBP/AUD

GBP/AUD Technical Analysis

Notably, GBP/AUD is now close to its 20, 50 and 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. It should be noted, though, that a trend in the opposite direction, going up, exists on the 14 day timeframe. Or to simplify this another way, note that out of the past 10 days GBP/AUD’s price has gone up 8 them. Oh, and one last thing: if you trade off of candlesticks, note that we’re seeing pin bar pattern appearing here.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPAUD, with 20 buy signals on our radar and 13 sell signals. This imputes a buy/sell ratio of 1.54, which is bullish. As for the rationale, technical traders seem to be citing the appearance of channel and divergence technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

hello my Friends It seems Pound breaked the downtrend channel and breaked higher low in uper time frame so we are expecting a pull back then Fly my following reasons for short in GBPAUD 1 ….Pull back trading 2 ….RSI Overbought = 77 3 .