The British Pound has lost about 4.61% of its values against the Australian Dollar since the beginning of October. This decline began after the currency pair reversed from a high mark of 1.8734 on October 10.
A one-month descending channel pattern has been guiding the exchange rate lower towards the lower boundary of a dominant descending channel at 1.7600.
Everything being equal, it is likely that the GBP/AUD currency exchange rate maintains the descending channel pattern during the following trading sessions.
The potential target for the pair will be at the bottom border of the dominant ascending channel in the coming days.
