Since November 6, the Pound Sterling has appreciated about 2.58% in value against the Australian Dollar. The currency pair tested October's swing high at 1.9073 during last week's trading session.
All things being equal, the GBP/AUD exchange rate will most likely continue to edge higher until it reaches the upper boundary of a junior ascending channel pattern at 1.9434.
If the junior ascending channel holds, the currency exchange rate will make a brief downside retracement in the short-term future.
In the meantime, technical indicators demonstrate that bullish traders would continue to dominate the pair during the following trading sessions.
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