The GBP/AUD currency pair depreciated about 1.69% in value during last week’s trading sessions. The pair was guided down by a two-month descending channel pattern.
Everything being equal, it is likely that the Pound Sterling will continue to lose ground against the Australian Dollar during the following trading sessions. The exchange rate could aim for a swing low at 1.7736.
However, a support cluster formed by the combination of the weekly and the monthly PPs at 1.7957 might provide support for the currency exchange rate within this week’s sessions.
