GBP/AUD Down 27 Pips Over Past 4 Hours, Makes Big Move Relative to Two Week Trend; Breaks Above 20 Day Average

GBP/AUD 4 Hour Price Update

Updated March 26, 2020 05:09 AM GMT (01:09 AM EST)

GBP/AUD, which opened the current 4 hour candle priced near 2.0038, is down 27 pips 0.13% since the previous 4 hours, marking a reversal from the candle prior — and the end of a 5 four-hour candle positive run. Compared to its peers in the Forex, GBP/AUD gave its buyers a return that ranked 32nd in terms of percentage change since the previous 4 hours.

GBP/AUD End of Day Recap

Updated 00:30 GMT (04:30 EST)

GBP/AUD is up 314 pips (1.59%) since the day prior (opening today near 2.0049), marking the 2nd day in a row an upward move has occurred. Out of the 40 instruments in the Forex asset class, GBP/AUD ended up ranking 2nd for the day in terms of price change. Here is a price chart of GBP/AUD.

GBP/AUD Technical Analysis

First things first: GBP/AUD crossed above its 20 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 16 out of the past 30 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPAUD, with 15 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 3, 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.

Managed to catch this GBPAUD trade today, made 9% closing at 350 pips….I then saw good signs of price action along with inverse head and shoulders, and managed to catch this perfect entry on the lower time frames :DI am now seeing if we can break 2.000 and if so our next target will be 2.025, although I have now closed this trade after failing to break this monthly level….I also gave this trade for free on my telegram today breaking it down on my charts:Free Telegram 👉👉 https://t.me/aslfxFree Telegram 👉👉 https://t.me/aslfx