During last week’s trading sessions, the British Pound appreciated about 2.07% in value against the Australian Dollar. The 100– hour simple moving average pressured the currency pair higher.
As for this week’s trading sessions, the GBP/AUD exchange rate could make a U-turn down. The potential target for bearish traders will be near the 200– hour SMA at 1.8907.
However, a support cluster formed by the weekly pivot point and the 50– period SMA at 1.9130 could provide support for the currency exchange rate in the nearest future.