Talking Points:
– GBPAUD may be topping below 1.8100 (Head and Shoulders).
– GBPUSD breakdown could accelerate, AUDUSD could rally.
– Quiet Friday calendar sees Fed speeches as top events.
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The British Pound is continuing to lose ground and near-term topping opportunities may be seen aganist the Australian and US Dollars. The GBPAUD topping pattern isn’t just indicative of Australian Dollar strength (even as AUDUSD consolidates in an ascending triangle) – it also sees GBPUSD dropping below the July 2013 to February 2014 rising trendline.
— Written by Christopher Vecchio, Currency Analyst
To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com
Follow him on Twitter at @CVecchioFX
Source: Daily fx
