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AUD/GBP: See-Sawing Around £0.52 Handle

AUD

The cross has been see-sawing around the £0.52 handle in recent dealing with little follow through on moves. A £0.5170/0.5240 range has persisted.

  • In early dealing on Friday we sit at £0.5205/10.
  • AUD/GBP remains in a downtrend, bears look to break the low from 13 Oct (£0.5174) which opens the low from 14 Sep (£0.5139) and the low from 5 Sep (£0.5063).
  • To turn the tide bulls are focus on a break of £0.5241, high from 18 Oct, which opens the high from 29 Sep (£0.5303), this opens the 200-Day EMA (£0.5315) and the £0.54 handle.

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