The Pound-to-Australian-Dollar Rate in the Week Ahead: Continuing To Hold Above Trendline  

The Pound-to-Australian-Dollar rate is set to begin trading around 1.8163 at the beginning of the new week after closing the previous one around 1.27% higher on Friday and studies of the charts are pointing to further gains in the days ahead. 

The Australian Dollar was riding high Wednesday after besting its major rivals in response to a cocktail of domestic and international developments overnight, which some analysts say will aid the currency even higher still over the coming days, although others doubt the sustainability of this week's bounce by the Antipodean unit.

The Pound is set for a brief period of outperformance against the Australian Dollar in the weeks ahead, according to strategists at Westpac, although the British currency is expected to eventually hand back any intermittent gains toward year-end as markets on the risks posed by a seemingly inevitable general election.

The Australian Dollar continued to burn its doubters on Monday when it advanced against a majority of its major rivals as investors celebrated another perceived detente in the trade war between the U.S. and China, which say can go on supporting the Aussie for a while yet. 

The GBP/AUD exchange rate is trading at around 1.7934 at the start of the new week after falling -0.65% during the week before, but the pair is still seen to be trading within a rising channel, which is likely to extend.

 It's all about trade for the Australian Dollar today, with news of a thawing in the U.S.-China trade war and strong trade surplus numbers out of Austrlaia proving supportive.

The Australian Dollar was riding high against most of its G10 counterparts during the morning session Wednesday after official data appeared to show the economy recovering its poise in the second quarter, although some analysts say there is trouble ahead and that nascent gains won't last long for the Aussie. 

The Australian Dollar rose close to the top of the G10 league table Tuesday after the Reserve Bank of Australia (RBA) neglected to provide investors fresh impetus for selling the currency, which is tipped to avoid further steep losses by analysts at Westpac.