GBP/AUD: Potential Support on Trendline

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GBP/AUD 1-hour

GBP/AUD 1-hour

GBP/AUD has been on a downtrend since last week. However, after the sharp drop that we saw earlier in today’s trading, it looks like the pair’s slide could stall as it encounters support at the bottom of the channel. If it holds, we may just see GBP/AUD inch back up to the top of the channel around 1.8160.

To contact the reporter of the story: Jonathan Millet at john@forexminute.com.

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