GBP/AUD Up 5 Pips in Last Hour, 4 Day Down Streak Snapped; in a Downtrend Over Past 90 Days

Hourly Update

(Last Updated May 9, 2022 1:40 GMT)

At the time of this writing, GBPAUD’s rate is up 5 pips (0.03%) from the hour prior. GBPAUD has seen its price go up 8 out of the past 10 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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)

A moment of silence, please, for the end of GBPAUD’s 4 day down streak; price ended yesterday up 74 pips (0.43%) to finish the day at a rate of 1.74365. Compared to its peers in the Forex, GBPAUD gave its buyers a return that ranked 6th in terms of percentage change since yesterday. Below is a price chart of GBPAUD.

GBPAUD

GBPAUD Technical Analysis

The first thing we should note is that GBPAUD is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 7 out of the past 10 days.

The View From Around the Web

We’re seeing some traders come out with interesting conviction on GBPAUD, with 3 buy signals on our radar and 5 sell signals. This imputes a buy/sell ratio of 0.6, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.

GBPAUD Setting for long if possible breakout already done, but need more volume and momemtium to cover its space watch out. Good luck. Do your own researsh and comment bellow