Forex: GBP/AUD downside limited around 1.52 figure; fresh 10-week lows

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FXstreet.com (Barcelona) - GBP/AUD just printed another fresh 10-week low in late NY trade at 1.5196, now currently off that low at 1.5214, once it has feel from daily high at 1.5285 by late London session, not being able to reach starting weekly prices around the figure 1.53. Second lower low in a row out of two trading days.

The cross was pushed to the upside in earlier London trade helped with better than expected CPI data coming out of the UK, but it was not enough to stop the USD strong demand it came after it, sending GBP/USD back to weekly lows area, coupled with Aussie strength printing new weekly highs, all of which caused the GBP/AUD going back to fresh lows.

Immediate support to the downside for GBP/AUD lies at recent session and 10-week lows 1.5196, followed by mentioned key Fibo level 61.8% retrace and Aug 27 lows at 1.5150/63, and July 05 lows/Aug 17 highs at 1.5082/65. To the upside, nearest term resistance shows at Sept 15 lows 1.5271, followed by yesterday's highs/past weekly lows/50% Fibo retrace of 1.47/1.59 at 1.5285/1.5300, and Sept 17 lows at 1.5339.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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