Forex: GBP/AUD retreats from 8-day high

July 29, 2010

FXstreet.com (Córdoba) – The Pound printed important gains against the Aussie on Wednesday. GBP/AUD rallied over 250 pips to post a fresh 8-day high at 1.7523 before retreating slightly to close the day at 1.7460, 1.08% above its opening price.

The pair entered into a consolidation phase at mid-American afternoon, but the Aussie has strengthened during the Asian session and has dragged the price lower. Currently GBP/AUD trades at 1.7420, 0.18% below its Thursday’s opening price.

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