(Last Updated July 5, 2022 1:40 GMT)
At the time of this writing, GBPAUD’s rate is up 2 pips (0.01%) from the hour prior. The hourly chart shows that GBPAUD has seen 3 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPAUD. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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)
GBPAUD entered today at 1.76166, down 123 pips (0.69%) from yesterday. Relative to other instruments in the Forex asset class, GBPAUD ranked 36th yesterday in terms of percentage price change. Let’s take a look at price chart of GBPAUD.
GBPAUD Technical Analysis
Notably, GBPAUD is now close to its 20, 50 and 100 day averages, located at 1.7588, 1.7602 and 1.7768 respectively, and thus may be at a key juncture along those timeframes. For additional context, note that price has gone up 15 out of the past 30 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 dailyfx.com; below is a short snippet from it to give you a taste.
The British Pound suffered heavy losses through the first quarter of 2022. GBP/AUD dropped more than 10% from its January peak before hitting multi-year lows in April.