GBP/AUD Down 13 Pips On 4 Hour Chart, in a Downtrend Over Past 90 Days; Pin Bar Pattern Appearing on Chart

GBP/AUD 4 Hour Price Update

Updated June 26, 2020 01:09 PM GMT (09:09 AM EST)

GBP/AUD is down 13 pips (0.07%) since the previous 4 hours (opening the current 4 hour candle near 1.8023), marking the 2nd candle in a row it has gone down. Relative to other instruments in the Forex asset class, GBP/AUD ranked 19th the previous 4 hours in terms of percentage price change.

GBP/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

The choppiness in the recent daily price action of GBP/AUD continues; to start today, it came in at a price of 1.80326, up 1 pips (0.01%) since yesterday. Compared to its peers in the Forex, GBP/AUD gave its buyers a return that ranked 29th in terms of percentage change since yesterday. Let’s take a look at price chart of GBP/AUD.

GBP/AUD Technical Analysis

Coming into today the current price of GBP/AUD is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 127.7 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 17 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPAUD, with 12 buy signals on our radar and 9 sell signals. This imputes a buy/sell ratio of 1.33, which is bullish. As for the rationale, technical traders seem to be citing the appearance of a fibonacci technical pattern. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

Very long term trendline being broken, KD on D1. I think we get to Price on the Daily before we get to S2!