FX News

AUD/GBP Transfer:

The English Pound (GBP) has stabilised around the 0.5350 (1.8700) area Monday against the Australian Dollar (AUD) after last week’s BoE cash rate hike shifted the pair lower to 0.5330 (1.8770) The Bank of England is not expected to raise rates at their June meeting unless the labour market data and inflation data comes in stronger than expected. Price has moved above the 100-day moving average this morning suggesting further upside the Aussie. Looking ahead we have Australian employment data to publish on Thursday the highlight.

Current Level: 0.5354 (1.8677)
Resistance: 0.5435 (1.9000)
Support: 0.5263 (1.8400)
Last Weeks Range: 0.5327-0.5380 (1.8585-1.8772)

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