A lot of consolidation going on for the past couple of weeks. It is looking for the proper direction. If it breaks upwards, it will go to 2.0+ but my bias is a downward move. AUD has been sold off aggressively across the board and Sterling will be tested with the General Election coming up. The conservative party is losing some steam. This is not the most liquid of pairs but when it moves, it moves BIG and FAST. So be prepared to make some money.
Comment:
GBPAUD has clearly broken BEARISH from the triangle and I believe it will head down to 1.67-1.65 region over the course of the next couple of weeks.