Bank of England’s Mann recently ruled out gradually reducing monetary policy, the British Pound (GBP) enjoying moves to the topside with price Monday clearing the key 0.4880 (2.0500) level a fresh yearly low for the AUD. It’s a thin week of data for the cross with just UK GDP m/m predicted to show 0.1% growth in January. We expect the AUD/GBP to retest the March 2020 low at 0.4800 (2.0850).
Current Level: 0.4873
Support: 0.4610
Resistance: 0.5070
Last week’s range: 0.4868- 0.4955