The British Pound has declined by 1.46% against the Australian Dollar during the past two weeks. The 50– and 100– period SMAs pressured the currency pair lower during this period.
As for the near future, the GBP/AUD exchange rate could continue to edge lower. Bearish traders are likely to target the 1.7400 level during the following trading sessions.
However, a support level at the 1.7500 area could provide support for the currency exchange rate within this week’s trading sessions.
