The British Pound has declined by 1.42% against the Australian Dollar during the past two weeks. The currency pair was pressured lower by the 200– period simple moving average.
The exchange rate breached the upper boundary of a descending channel pattern at 1.8023 on July 20.
Given that a breakout had occurred, the GBP/AUD pair could continue to edge higher within this week’s trading sessions. The potential target will be at the 1.8200 level.
Although, the 200– period SMA at 1.8091 could provide resistance for the currency exchange rate this week.
