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4 Mar 2014
GBP/AUD retreats from 1-month highs
FXStreet (Córdoba) - The GBP/AUD suffered the worst daily decline in week after reaching at 1.8823 the highest price since January 31 and finished at 1.8655. The retracement found support at 1.8635.
The Pound was among the worst performers on Monday, affected by the Ukraine crisis while the Aussie showed resilience. The RBA will announced its decision on monetary policy at 03:30 GMT that is likely to affect the Australian dollar. No changes in rates is expected.
Levels to watch for the GBP/AUD
Despite pulling back on Monday, the GBP/AUD still look bullish in the four hour charts. To the upside immediate resistance could be located at 1.8690/1.8700 and above here at an hourly downtrend line that currently stands at 1.8740, followed by 1.8780. On the other direction, support lies at 1.8635 (March 3 lows) and below here at 1.8600 and 1.8560 (February 28 low).
The Pound was among the worst performers on Monday, affected by the Ukraine crisis while the Aussie showed resilience. The RBA will announced its decision on monetary policy at 03:30 GMT that is likely to affect the Australian dollar. No changes in rates is expected.
Levels to watch for the GBP/AUD
Despite pulling back on Monday, the GBP/AUD still look bullish in the four hour charts. To the upside immediate resistance could be located at 1.8690/1.8700 and above here at an hourly downtrend line that currently stands at 1.8740, followed by 1.8780. On the other direction, support lies at 1.8635 (March 3 lows) and below here at 1.8600 and 1.8560 (February 28 low).