The GBP/AUD currency pair made about 200 base points movement during last week’s trading sessions. The monthly pivot point at 1.8424 provided resistance for the exchange rate.
Currently, the Pound Sterling versus the Australian Dollar is stranded between SMAs.
Technical indicators suggest that the currency exchange rate might continue its downward movement during the following trading sessions.
However, a support cluster formed by the weekly S1 and the 100-hour SMA at 1.8272 could help push the pair higher in the short-term.
