The British Pound has surged by 3.79% against the Australian Dollar since July 22. The currency pair is currently trading in narrow ascending channel pattern.
Technical indicators flash buying signals on the 4-hour and daily time-frame charts. Most likely, the GBP/AUD exchange rate will continue to edge higher within this week’s trading sessions. The potential target for bullish traders will be near the 1.8650 level.
However, the weekly resistance level at 1.8465 could provide resistance for the currency exchange rate in the shorter term.