GBP/AUD Transfer
The Australian Dollar (AUD) has extended last week’s moves off 0.4760 (2.1000) to reach 0.4815 (2.0770) this morning against the British Pound (GBP) as risk sentiment improves across the board. It’s a busy week of data announcements in the pair with UK CPI y/y Wed, Aussie employment data and the Bank of England (BoE) Cash Rate releasing. UK Policy is expected to remain at 4.25% for now with the vote 5-2 hardly unanimous highlighting a dovish slant. Support at 0.4760 (2.10) holds decent weight, a break beyond this level could signal further strength in the AUD. Aussie job numbers will also be key.
Current Level: 2.0846
Resistance: 2.1050
Support: 2.0500
Last Weeks Range: 2.0670 – 2.1000
