GBP/AUD 4 Hour Price Update
Updated July 02, 2020 01:15 AM GMT (09:15 PM EST)
A moment of silence, please, for the end of GBP/AUD’s 3 four-hour candle up streak; price ended the previous 4 hours down 8 pips (-0.04%) to finish the four-hour candle at a rate of 1.8034. Compared to its peers in the Forex, GBP/AUD gave its buyers a return that ranked 21st in terms of percentage change since the previous 4 hours.
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 1.8027, down 11 pips (0.06%) since the day prior. Compared to its peers in the Forex, GBP/AUD gave its buyers a return that ranked 37th in terms of percentage change since the day prior. 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 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 18 out of the past 30 days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!
The View From Around the Web
We’re seeing some traders come out with interesting conviction on GBPAUD, with 21 buy signals on our radar and 18 sell signals. This imputes a buy/sell ratio of 1.17, which is neutral. As for the rationale, technical traders seem to be citing the appearance of channel, divergence, flag, relative strength index, trendline and wedge technical patterns. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
– Both higher time-frame, H1 & H4 MBL started to point upwards, indicating trend was Bullish….Exit: – 26 pip SL @ 7 pips below day’s low….- 57 pip TP 2 @ RSI cross over on the Signal Line.