GBP/AUD

The Pound to Australian Dollar is correcting back in the middle of a downtrend as the new trading week begins.

The Pound to Australian Dollar pair has been in a short-term downtrend ever since the 1.7600 highs and this trend remains intact and likely to continue.

The Australian Dollar took a tumble after the Deputy Governor of the country’s Central Bank said that Australia may not follow other G10 central banks in hiking interest rates.

The commodity currency block, which includes AUD, CAD and NOK, is forecast to turn higher, says analyst Bipan Rai of CIBC economics.  

The Pound to Australian Dollar is at risk of more downside in the week ahead after falling steeply to the level of the 200-day moving average in the 1.66s, for the second time in as many months.

Does the Australian Dollar’s idiosyncratic rally of the last few days represent the last gasp of the bull trend?

The Pound has recovered over recent weeks on the back of more hawkish talk from Bank of England (BOE) officials who have increasingly advocated raising interest rates, this source of strength, however, may be coming to an end.

The Pound to Australian Dollar has been making a recovery over the last two weeks or so as UK political risks have eased, now the pair has reached a key transition point where any more upside could herald the beginning of a new trend yet further weakness is still a possibility.

The Pound to Australian Dollar has continued falling in a trend established after the exchange rate peaked at the 1.7660 May highs.

The outlook for commodity prices may be the key factor influencing the direction of the Australian Dollar, according to the views of leading FX analysts.

The Australian Dollar was unable to hold onto early gains against the majors on Monday morning after intial strength faded due to a lack of confidence in future commodity prices.

The Pound to Australian Dollar continues to show a downtrending bias at the start of the new trading week.

The Australian Dollar will probably strengthen marginally versus the Pound over coming months.

 The Pound to Australian Dollar exchnage rate has been moving sideways as the outlook for both currencies remains marred.

The Pound to Australian Dollar fell to lows of 1.6757 after Sterling's deep decline following the general election.

The pair has moved up from 1.60 lows to its current level in the 1.73s throughout the spring and we expect a continuation of that young uptrend higher.

The Pound to Australian Dollar rose marginally on Tuesday following an equally diminutive rebound on Monday making two up days in a row this week so far.

Sterling has been losing ground across the board due to renewed Brexit fears.

After a shaky start, the pound has recovered versus the Australian Dollar this week.

GBP/AUD has formed a bearish topping pattern on the daily chart, which suggests a strong possibility of further downside.