13 Dec 2013
Flash: GBP/AUD exposes 2.00 after 1.80/8250 breakout - ANZ
FXstreet.com (Bali) - GBP/AUD looks poised to target 2.00 subject to its ability to consolidate recent gains above 1.800/8250 resistance.
Key Quotes
"If it can consolidate above that, a move towards 2.00 looks probable in coming weeks. Admittedly, cable has failed to move dynamically higher since breaking through key resistance levels abound 1.63 recently. However, we are of the view that the pound can still gain further."
"Whilst sectors of the UK housing market are very strong and the activity indicators are showing signs of a more broad based recovery in output, the economy is still operating below potential and GDP has not yet recovered to 2008 peak levels."
Key Quotes
"If it can consolidate above that, a move towards 2.00 looks probable in coming weeks. Admittedly, cable has failed to move dynamically higher since breaking through key resistance levels abound 1.63 recently. However, we are of the view that the pound can still gain further."
"Whilst sectors of the UK housing market are very strong and the activity indicators are showing signs of a more broad based recovery in output, the economy is still operating below potential and GDP has not yet recovered to 2008 peak levels."