GBP/AUD: Pullback to the 1.9300 level

On the one hour chart of the Pound versus the Australian Dollar we can see that the price has been heading lower for today and breaks below the 200 and 55 period exponential moving averages. The price has also broken below the 1.9300 round number level, but it is pulling back at the moment to that same level. The price has consolidated in the past around the 1.9300 zone, and the area could become a good resistance for the pair at the moment. A bounce to the downside from that zone could accelerate the bearish momentum on the pair and the price may visit the 1.9200 level.