9 Apr 2015
GBP/AUD trades below 1.92
FXStreet (Mumbai) - The GBP/AUD pair hovers below 1.92 levels as the British Pound gave up its M&A gains witnessed in the previous session.
Muted reaction to UK data
The pair remained resilient to the disappointing trade deficit figures in the UK, after having dropped more than 200 pips from the daily high of 0.9394. The pair hit a low of 1.9281 before recovering back to 1.92 levels.
The next trigger in line is the Bank of England rate decision, with consensus estimates calling for a no change in the key policy instruments.
GBP/AUD Technical Levels
The immediate resistance is seen at 1.9262 (100-DMA), above which gains could be extended to 1.93 levels. On the flip side, a break below 1.9191 could drive the pair lower to 1.9143.
Muted reaction to UK data
The pair remained resilient to the disappointing trade deficit figures in the UK, after having dropped more than 200 pips from the daily high of 0.9394. The pair hit a low of 1.9281 before recovering back to 1.92 levels.
The next trigger in line is the Bank of England rate decision, with consensus estimates calling for a no change in the key policy instruments.
GBP/AUD Technical Levels
The immediate resistance is seen at 1.9262 (100-DMA), above which gains could be extended to 1.93 levels. On the flip side, a break below 1.9191 could drive the pair lower to 1.9143.