FX News

GBP/AUD Transfer

The Australian Dollar (AUD) has kicked off 2024 underperforming against the British Pound (GBP). After making it through to 0.5380 (1.8590) late December it’s been all Pound action. UK GDP wasn’t exactly favourable dropping the GBP for a while last week together with a poor Industrial Production read. The Pound recovered back to early December levels around 0.5235 (1.9100) and now looks to target the October level at 0.5175 (1.9330). On the calendar we have Inflation data printing tomorrow expected to click lower off 3.9%.

Current Level: 1.9113
Resistance: 1.9300
Support: 1.8900
Last Weeks Range: 1.8901 – 1.9117

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