(Last Updated July 7, 2020)
Hello! This is the news page for GBPAUD. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
On GBPAUD, there is currently a downtrend on the 90, 30 and 14 day timeframes.
Across several time periods between 20 and 200 days, the trend on GBPAUD has remained consistently bearish.
Below is a chart showing GBPAUD’s price with its moving averages.
As for assets in the Forex asset class GBPAUD has been correlated to over the past week, it has demonstrated the strongest correlation with EURSEK. Over the past 14 days, however, GBPNZD is the asset most correlated to GBPAUD. Alternatively, the asset least correlated with GBPAUD over the past week has been GBPUSD, but over the past two weeks, the asset least correlated with GBPAUD has been USDCHF. See the chart below to observe the recent price action in GBPAUD versus those of assets it hasn’t been well correlated with.
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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.
This imputes a buy/sell ratio of 1.25, which is bullish.
This imputes a buy/sell ratio of 0.47, which is bearish.
Volatility for gbp/aud has been contracting over the past two weeks relative to volatility over the past month.
The closest is the 20 day average, which is 32.8 pips away.
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.
However we’ve seen a double top forming just above the line, so we have to be ready to react in a breakout of the channel to the downside….
Price formed a hl and good candle stick pattern within the consolidation box which gave goodbuy opportunities….
Compared to its peers in the forex, gbp/aud gave its buyers a return that ranked 13th in terms of percentage change since the day prior.
This imputes a buy/sell ratio of 7.5, which is very bullish.