FX News

GBP/AUD Transfer

The British Pound (GBP) extended gains Monday back to the pre- level low of 0.5140 (1.9460) against the Australian Dollar (AUD). Its thin air all the way through to 0.4940 (2.0240) on the chart as the long-term head and shoulders pattern progresses. NAB Business Confidence prints today and Friday UK quarterly GDP. The lower highs followed by lower lows should continue to dominate moves in the cross for some time.

Current Level: 1.9447
Resistance: 1.9475
Support: 1.8975
Last Weeks Range: 1.9071 – 1.9467

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