GBP/AUD 4 Hour Price Update
Updated May 20, 2020 05:05 PM GMT (01:05 PM EST)
GBP/AUD is down 67 pips (0.36%) since the previous 4 hours (opening the current 4 hour candle near 1.8568), marking the 2nd candle in a row a decrease has occurred. Compared to its peers in the Forex, GBP/AUD gave its buyers a return that ranked 35th in terms of percentage change since the previous 4 hours.
GBP/AUD End of Day Recap
Updated 00:30 GMT (04:30 EST)
The back and forth price flow continues for GBP/AUD, which started today off at 1.87301, down 2 pips 0.01% from the day prior. Relative to other instruments in the Forex asset class, GBP/AUD ranked 32nd the day prior in terms of percentage price change. Let’s take a look at price chart of GBP/AUD.
GBP/AUD Technical Analysis
Notably, GBP/AUD is now close to its 20 and 200 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 20 day average, which is 315.8 pips away. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 22 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
Of note is that traders in aggregate have opinions on GBPAUD, with 23 buy signals on our radar and 8 sell signals. This imputes a buy/sell ratio of 2.88, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a trendline technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
1hr: Holding 50ema & trendline, currently rejecting .5 fib….could see price reject .618fib or come down for double bottoms (take out previous lows)….Looking for price to break above, trendline and 50 ema, come for a retest (rejection) and look to enter long.