The British Pound has declined by 1.66% against the Australian Dollar since August 20. The slide was stopped by the 200– period simple moving average near the 1.8800 level during yesterday’s trading session.
If the support level formed by the 200– period SMA holds, bullish traders could pressure the GBP/AUD exchange rate towards the 1.9100 area during the following trading session.
However, if the currency exchange rate breaks the support line, a decline towards the weekly support level at 1.8708 could be expected this week.
