The British Pound (GBP) extended gains on the Australian Dollar (AUD) Monday as markets focus on geopolitical risk uncertainty. The AUD/GBP reached 0.5175 (1.9325) as markets turned risk averse. To be fair things could have been a whole lot worse in the cross, the Aussie having found a little demand this morning as it pushed back to around 0.5185 (1.9290). On the docket this week we have UK CPI Wednesday predicted to come in at 3.1% y/y for March compared to 3.4% in February followed by Australian Jobs data Thursday with unemployment expected to tick higher off 3.7%.
Current Level: 1.9323
Resistance: 1.9530
Support: 1.9100
Last Weeks Range: 1.9094- 1.9288