GBPAUD Down 16 Pips On Hourly Chart, Moves Down For the 4th Day In A Row; is Inching Close to 20, 50, 100 and 200 Day Averages

Hourly Update

(Last Updated April 26, 2021 3:20 GMT)

Currently, GBPAUD’s rate is down -16 pips (-0.09%) from the hour prior. GBPAUD has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a doji 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 20, 50, 100 and 200 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 is down 6 pips (0.03%) since yesterday (opening today near 1.79051), marking the 4th day in a row a decline has happened. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 27th in terms of percentage change since yesterday. Let’s take a look at price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

The first thing we should note is that GBPAUD is now close to its 20, 50, 100 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 100 day average, which is 38.2 pips away. It should be noted, though, the 200 day simple moving average turned downwards, which may be a bearish sign. 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. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to simplify this another way, note that out of the past 30 days GBPAUD’s price has gone up 15 them.

The View From Around the Web

Not much in terms quality buy/sell signals we’re seeing for GBPAUD; just 2 sell signals and 2 buy signals. This imputes a buy/sell ratio of 1, which is neutral. Here’s a piece we found on tradingview.com that we thought you might enjoy.