Ransquawk

Almost from the beginning of June, we have been seeing increases on the GBP/AUD. Risk factors, mainly related to the Brexit negotiations, are probably already priced in. In addition, Australia’s currency has started losing recently and in result we have noticeable increases on the pair. We have an interesting technical outlook on the weekly chart. It can be seen here that the wider trend is bullish, and the last wave of declines has stopped on support based on the May last year high. The range of falls was quite high, so it seems that the pair has large space for growth. It is possible, therefore, that the newly initiated reflection will be continued over a longer period of time.

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Ransquawk