OANDA:GBPAUD Pound to Australian Dollar: On the verge of falling off the top?
My analysis shows that the GBP/AUD pair is currently in a risk zone after its recent rally, with a possible downside from the 1.95000 area.
* Euro to Australian Dollar Correlation: There is a strong correlation between the Euro and the Australian Dollar.
My scenario:
* The GBP/AUD pair is expected to fall below the 1.93000 level in the short term. * If this level is broken, we can see a further decline to the level of 1.90000.
Note: This analysis is not considered as investment advice. Be sure to do your research and consult with a financial professional before making any transactions.