I'm pretty bullish
on this pair, due to strong British Pound and weak Australian Dollar
; remember that despite last weeks rally, RBA cut rate interest in last rate decision, so in the long run I see this currency weakening even more. Now the pair is taking some relief at 1.9750 handle (former resistance) and this level could provide some support. Some confluence is provided by the 21-period exponential moving average
, so I'm expecting a bounce higher from this level.