17 Dec 2014
GBP/AUD falls from the day’s high
FXStreet (Mumbai) - The British Pound weakened against the Australian Dollar after the Bank of England minutes and the UK employment data hit the wires.
The GBP/AUD pair now trades 0.23% higher at 1.9202 levels, down from the high of 1.9307 hit ahead of the BOE minutes. Pound weakened as the BOE minutes revealed that policy makers see no need to raise interest rates as wage growth still needs to pick up. Meanwhile, the UK unemployment rate in three months to October remained unchanged at 6.0%.
The GBP/USD pair declined to 1.5721 levels after the release of the UK data. On the other hand, the AUD/USD pair has recovered part of its losses to trade at 0.8184 levels, thereby pushing the GBP/AUD cross lower from the day’s high.
GBP/AUD Technical Levels
The pair has an immediate support at 1.9172, under which the pair could test the support at 1.9064 levels. Meanwhile, resistance is seen at 1.9242 and 1.9307 levels.
The GBP/AUD pair now trades 0.23% higher at 1.9202 levels, down from the high of 1.9307 hit ahead of the BOE minutes. Pound weakened as the BOE minutes revealed that policy makers see no need to raise interest rates as wage growth still needs to pick up. Meanwhile, the UK unemployment rate in three months to October remained unchanged at 6.0%.
The GBP/USD pair declined to 1.5721 levels after the release of the UK data. On the other hand, the AUD/USD pair has recovered part of its losses to trade at 0.8184 levels, thereby pushing the GBP/AUD cross lower from the day’s high.
GBP/AUD Technical Levels
The pair has an immediate support at 1.9172, under which the pair could test the support at 1.9064 levels. Meanwhile, resistance is seen at 1.9242 and 1.9307 levels.