Flash: GBP/AUD to hit 1.6100 over month ahead? – Westpac

FXstreet.com (New York) - According to Sean Callow, a Global FX Strategist at Westpac, “The GDP/AUD has found sellers above 1.67 in recent weeks and with new BoE governor Carney sounding somewhat dovish, we see scope for 1.61 over the month ahead.”

Moreover, the event risk for the pair is clustered in the first week of August: the BoE MPC decision on 1 Aug then the RBA decision on 6 Aug. “The GBP/AUD should continue to find resistance on rallies above 1.6700, with the early July high around 1.6910 presumably strong resistance. On the downside, 1.6140 has proven strong support this month and will take some hard work to break.” Callow adds.