(Last Updated June 3, 2022 1:42 GMT)
At the moment, GBPAUD’s rate is up 8 pips (0.05%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. As for the trend on the hourly timeframe, we see the clearest trend on the 20 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)
GBPAUD is down 93 pips (0.53%) since the day prior (opening today near 1.7307), marking the 5th day in a row a decrease has occurred. Out of the 39 instruments in the Forex asset class, GBPAUD ended up ranking 32nd for the day in terms of price change. Let’s take a look at price chart of GBPAUD.
GBPAUD Technical Analysis
Notably, GBPAUD is now close to its 20 and 50 day averages, located at 1.7646 and 1.7587 respectively, and thus may be at a key juncture along those timeframes. 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 50 day average, which is 280.4 pips away. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 8 out of the past 14 days.
The View From Around the Web
Not much in terms quality buy/sell signals we’re seeing for GBPAUD; just 3 sell signals and 1 buy signals. This imputes a buy/sell ratio of 0.33, which is bearish. Here’s a piece we found on tradingview.com; below is a short snippet from it to give you a taste.
if a price pullback to 1.73500 chance to continue sell until the support at 1.71800 and entry to take a buy postion https://www.tradingview.com/chart/GBPAUD/6gksGm9c-GBP-AUD/