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12 Mar 2013
Forex: GBP/AUD keeps printing post-floating record lows
GBP/AUD is extending further down through the Asian trade, now breaking Monday's low at 1.45 round number for an additional 15/20 pips extension south. The move marks another post-floating record low.
According to Sean Lee, founder at FXWW, "AUD/JPY and GBP/AUD flows were again to the fore in the last 24 hours, with Japanese accounts still chasing AUD/JPY higher after the 97.50 break whilst hedge funds have been selling GBP/AUD in anticipation of a bearish technical close below 1.4550."
While the recent fall opens further downside towards 1.4450, 1.44 and beyond, the upside sees immediate areas of supply between 1.4525/55 - intraday swing highs from March 11 - ahead of 1.46 - breakout point March 11 - .
According to Sean Lee, founder at FXWW, "AUD/JPY and GBP/AUD flows were again to the fore in the last 24 hours, with Japanese accounts still chasing AUD/JPY higher after the 97.50 break whilst hedge funds have been selling GBP/AUD in anticipation of a bearish technical close below 1.4550."
While the recent fall opens further downside towards 1.4450, 1.44 and beyond, the upside sees immediate areas of supply between 1.4525/55 - intraday swing highs from March 11 - ahead of 1.46 - breakout point March 11 - .