A double whammy of central bank excitement this week is where our attention fixed on both the RBA and Bank of England (BoE) expected to hike interest rates a quarter percent. The Pound (GBP) gave back losses Monday retreating from 1.9320 (0.5175) to 1.9075 (0.5240) in the lead up to today’s RBA decision, pushing back towards the top of the recent trading range. The AUD/GBP sits at the top of a trend channel, we expect the cross to retest 1.9300 (0.5180) levels over the week.
Current Level: 0.5237 (1.9094)
Resistance: 0.5280 (1.9175)
Support: 0.5215 (1.8940)
Last weeks Range: 0.5175-0.5282 (1.8931-1.9322)