Pound Aussie

You may recall back in April we analyzed the Pound against Aussie Dollar. You can view the forex analysis here.

The price broke down after it squeezed and we have support at the MOB. Prior to that the 2.0500 zone could provide psychological support too.

At the moment we have a convergence going on and the last three bars have all been static. We have locked in our profits on this one but still think we could see further weakness longer term.


Chart courtesy of Advanced GET. Data provided by eSignal.

Good trading.

Forex Analysts
Javid Shaik & Anne Chapman