6 Feb 2014
GBP/AUD falls to 3-week lows after Australian data
FXStreet (Córdoba) - The GBP/AUD extended weekly losses and fell to 1.8167 after the release of economic data from Australia, reaching the lowest price in three weeks. The Aussie strengthened across the board climbing to fresh highs supported by a suppressive trade surplus and better-than--expected retail sales data.
GBP/AUD bearish momentum holds
With the recent movement, the GBP/AUD is now headed toward the fourth daily decline in a row. Since the beginning of February it has fallen more than 500 pips, retreating further after the Pound was unable to hold above 1.9000.
The trend in the short-term points to the downside as the pair continues to break important levels. Below 1.82000 immediate support lies at 1.8050 and 1.7880 (December 2, 9 lows). To the upside above 1.8600 the short-term bias could lose momentum.
GBP/AUD bearish momentum holds
With the recent movement, the GBP/AUD is now headed toward the fourth daily decline in a row. Since the beginning of February it has fallen more than 500 pips, retreating further after the Pound was unable to hold above 1.9000.
The trend in the short-term points to the downside as the pair continues to break important levels. Below 1.82000 immediate support lies at 1.8050 and 1.7880 (December 2, 9 lows). To the upside above 1.8600 the short-term bias could lose momentum.