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AUD/GBP: Fresh Cycle Lows On Monday

AUD

AUD/GBP printed fresh cycle lows in yesterday's Asian session before paring losses, as risk sentiment improved, to finish the day marginally lower.

  • The pair is stable in early dealing on Tuesday and sits at £0.5115/20.
  • On the downside the immediate focus is on yesterday's low (£0.5095), from here bears can target the £0.50 handle and the March 2020 low at £0.4795.
  • Bulls look to first reclaim the £0.52 handle, the 20-Day EMA comes in at £0.5168. A break through here opens the high from 20 July (£0.5304).

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