This analysis includes the price movement of the British Pound against the Australian dollar on the weekly and daily frames, and expectations about the future movement and market direction
The pound against the Australian dollar
On the weekly time frame:
The British pound against the Australian dollar has been declining for two weeks about 1% to trade at prices of 1.84626.
The long-term trend is still downwards.
On the daily time frame:
As mentioned in the previous analysis, this pair is heading downwards, forming a downward channel, and the breach of the 1.8537 price will further push this pair to the downside.
The GBP/AUD analysis will not change; the trend is still bearish, and forming a new low at 1.84312 confirms the bearish scenario.
This analysis is an update.
Tags : GBPAUD