The Pound Sterling has been appreciating in an ascending channel pattern against the Australian Dollar. The surge began after the currency pair reversed from its lower boundary at 1.8100 on October 10. The GBP/AUD pair has risen by about 5.20% in value during the last two weeks.
As for the near future, the exchange rate could aim for the 200– period simple moving average at the 1.8446 area.
However, the currency exchange rate will have to surpass a support cluster formed by the weekly S2 and the 100– period SMA at 1.8636 before reaching the given target.