GBP/AUD Up 194 Pips On 4 Hour Chart, 3 Day Down Streak Ended; Pin Bar Pattern Appearing on Chart

GBP/AUD 4 Hour Price Update

Updated March 25, 2020 01:40 PM GMT (09:40 AM EST)

A moment of silence, please, for the end of GBP/AUD’s 5 four-hour candle down streak; price ended the previous 4 hours up 194 pips (0.99%) to finish the four-hour candle at a rate of 1.9789. Relative to other instruments in the Forex asset class, GBP/AUD ranked 4th 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, which opened today priced near 1.9735, is up 7 pips 0.04% since yesterday, marking a reversal from the day prior — and the end of a 3 day negative run. Compared to its peers in the Forex, GBP/AUD gave its buyers a return that ranked 24th in terms of percentage change since yesterday. The price chart of GBP/AUD below illustrates.

GBP/AUD Technical Analysis

Coming into today the current price of GBP/AUD is sitting close to its 20, 50 and 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to simplify this another way, note that out of the past 10 days GBP/AUD’s price has gone up 6 them. 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

Of note is that traders in aggregate have opinions on GBPAUD, with 12 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 1.5, which is bullish. As for the rationale, technical traders seem to be citing the appearance of divergence, fibonacci and relative strength index technical patterns. Here’s a piece we found on; below is a short snippet from it to give you a taste.

GBPAUD rompio la tendencia de contratendencia, que hace confluencia a si mismo con el 50% del fibonacci.evening star en zona de demanda.