GBP/AUD When Should I Move? (Daniel Johnson)

AUDGBP Advances from 2020 Support Level

There is little economic data of consequence being released down under this week. The only point at which I expect to see possible volatility is tomorrow at 9.05am. Governor of the Reserve Bank of Australia Glenn Stevens will be making a speech and he will address the current stae of the Australian economy and the value of AUD. I expect a strong stance from Mr Stephens considering the recent Spike in AUD, so we could expect further improvement for AUD.

GBP/AUD bouyancy levels are currently between 2.10-2.13, I think current market conditions should not be taken for granted for AUD sellers. I think this will only be a small window of opportunity due to larger underlying problems with the Australian economy.

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