GBP/USD waits on inflation data
As GBP/USD looks to maintain its momentum from the October lows, today’s consumer price index (CPI) reading will be a make-or-break moment for cable.
A close above last week’s high of $1.3338 would open the way to $1.3427, and then $1.36. Downside targets lie at $1.3153, and then $1.3050.
AUD/USD bounces from overnight lows
A pullback for AUD/USD from the Friday highs has provided a possible buying opportunity, as the price finds support at $0.7835. From here the $0.79 area comes into play, and then the 50-day simple moving average (SMA) at $0.7910.
Above this, the highs of September at the $0.81 area are the next destination. But if gains falter and the price drops, $0.7835, then $0.7807 and $0.7748 are the areas to watch for possible support.