GBP/AUD 4 Hour Price Update
Updated June 03, 2020 01:19 AM GMT (09:19 PM EST)
GBP/AUD is down 21 pips (0.12%) since the last 4 hour candle (opening the current 4 hour candle near 1.819), marking the 6th candle in a row a decline has happened. Out of the 37 instruments in the Forex asset class, GBP/AUD ended up ranking 30th for the four-hour candle in terms of price change.
GBP/AUD End of Day Recap
Updated 00:30 GMT (04:30 EST)
GBP/AUD is down 12 pips (0.07%) since the previous day (opening today near 1.81848), marking the 5th day in a row a decline has happened. Relative to other instruments in the Forex asset class, GBP/AUD ranked 33rd the previous day in terms of percentage price change. Below is a price chart of GBP/AUD.
GBP/AUD Technical Analysis
The first thing we should note is that GBP/AUD is now close to its 20 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 20 day average, which is 429.3 pips away. Volatility for GBP/AUD has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 10 days.