GBP/USD still falling but AUD/USD back at key resistance
The pound has continued to drop against the dollar, while the Aussie is back at two-month highs.

GBP/USD still dropping
The market has rather fallen out of love with GBP/USD following the election, although some might see this pullback as a necessary correction before a move higher. Certainly, $1.28 might provide support, while a higher low would be formed at anywhere above $1.23.
Trendline support is nearby at $1.27, and if the price can begin to recover, with a bullish stochastic crossover in due course, then we might have the makings of a buying opportunity now the post-election excitement has dissipated.

AUD/USD back at recent highs
The AUD/USD price has pushed steadily higher over the past month, forming higher lows in that time.
A move above $0.6950 would see the highs of October and December finally breached, and open the way to more upside. Given the long-term downtrend since January 2018, this may be another false dawn however, so will need to be watched carefully.

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.
The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.
No representation or warranty is given as to the accuracy or completeness of this information. Consequently, any person acting on it does so entirely at their own risk. Please see important Research Disclaimer.
Please also note that the information does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. Any views and opinions expressed may be changed without an update.

Start trading forex today
Trade the largest and most volatile financial market in the world.
- Spreads start at just 0.6 points on EUR/USD
- Analyse market movements with our essential selection of charts
- Speculate from a range of platforms, including on mobile
Live prices on most popular markets
- Forex
- Shares
- Indices
See more forex live prices
See more shares live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.
See more indices live prices
Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.