GBP/AUD Up 43 Pips in Last 4 Hours, Came Into Today Down For the 2nd Day In A Row; in a Downtrend Over Past 14 Days

GBP/AUD 4 Hour Price Update

Updated May 15, 2020 01:06 PM GMT (09:06 AM EST)

The back and forth price flow continues for GBP/AUD, which started the current 4 hour candle off at 1.8931, up 43 pips 0.23% from the previous 4 hours. Relative to other instruments in the Forex asset class, GBP/AUD ranked 12th 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 down 6 pips (0.03%) since the previous day (opening today near 1.89084), marking the 2nd day in a row a decline has happened. Compared to its peers in the Forex, GBP/AUD gave its buyers a return that ranked 31st in terms of percentage change since the previous day. Here is a price chart of GBP/AUD.

GBP/AUD Technical Analysis

The first thing we should note is that GBP/AUD is now close to its 20 and 200 day averages, located at 1.916 and 1.9192 respectively, and thus may be at a key juncture along those timeframes. 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 20 day average, which is 251.6 pips away. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 21 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPAUD, with 15 buy signals on our radar and 11 sell signals. This imputes a buy/sell ratio of 1.36, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a triangle technical pattern. Here’s a piece we found on; below is a short snippet from it to give you a taste.

Would need to see strong bullish break and close above trendline….Strong close above intraday 1.8950 S/R level….Targeting 4 hr highs @ 1.9500 for potentially +6%___________________________________** DISCLAIMER* The content on this analysis is subject to change at any time without notice and is provided for the sole purpose of assisting individuals to make independent trading decisions.