GBPAUD Up 50 Pips in Last Hour, Came Into Today Down For the 2nd Consecutive Day; Breaks Below 20 and 50 Day Averages
It should be noted, though, the 20 day simple moving average turned downwards, which may be a bearish sign.
GBPAUD
(Last Updated September 22, 2020)
Welcome to the news page for GBPAUD (GBPAUD). Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
The Trend
On GBPAUD, there is currently a downtrend on the 90, 30 and 14 day timeframes.
GBPAUD Moving Averages
GBPAUD’s moving averages suggest the trend on a number of time horizons is bearish.
The chart below illustrates.
In terms of correlations over the past week for GBPAUD, it has demonstrated the strongest correlation with GBPCAD. If we zoom out to a two week basis, though, the asset showing the strongest correlation to GBPAUD is GBPCHF. On the flip side, the asset least correlated with GBPAUD over the past week has been USDCAD, but if we observe the prior two weeks, EURUSD has been the asset least correlated with GBPAUD. See the chart below to observe the recent price action in GBPAUD versus those of assets it hasn’t been well correlated with.
.
The View From the Weekly Timeframe
At the time of this writing, GBPAUD’s rate is up 0.0029 (0.17%) from the week prior. Moreover, note that the weekly chart shows that GBPAUD has seen 2 straight up weeks. As for the trend on the weekly timeframe, we see the clearest trend on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bullishness in price, as the 20 and 50 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend. GBPAUD’s weekly price action over the past 52 weeks can be seen via the chart below.
GBPAUD Up 4 Pips Over Past Hour, 4 Day Up Streak Broken; Doji Pattern Appearing on Chart
This is the 2nd straight hour gbpaud has seen its price head up.
GBPAUD Up 2 Pips in Last Hour, 4 Day Up Streak Broken; is Inching Close to 20 Day Average
The closest is the 20 day average, which is 0.8 pips away.
GBPAUD Up 4 Pips in Last Hour, Entered Today Up For the 3rd Consecutive Day; is Inching Close to 20 and 50 Day Averages
This imputes a buy/sell ratio of 0.58, which is bearish.
GBPAUD Down 5 Pips On Hourly Chart, Moves Up For the 3rd Straight Day; Nears 20 and 50 Day Moving Averages
As for the rationale, technical traders seem to be citing the appearance of a wedge technical pattern.
GBPAUD Up 12 Pips Over Past Hour, 3 Day Down Streak Snapped; Sentiment Strongly Favors Buyers
Or to simplify this another way, note that out of the past 10 days gbpaud’s price has gone down 6 them.
GBPAUD Up 19 Pips in Last Hour, 3 Day Down Streak Snapped; Eyes 50 Day Average
At the time of this writing, gbpaud’s rate is up 19 pips (0.1%) from the hour prior.
GBPAUD Up 6 Pips On Hourly Chart, Eyes 20 Day Average; Doji Pattern Appearing on Chart
This move is a reversal from the hour prior, which saw price move down.
GBP/AUD Down 7 Pips On 4 Hour Chart, Sentiment Suggests Buyers in Charge; Pin Bar Pattern Appearing on Chart
The closest is the 20 day average, which is 1.9 pips away.
GBP/AUD Up 18 Pips On 4 Hour Chart, Makes Big Move Relative to Two Week Trend; is Inching Close to 20 Day Average
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.