However, a breakdown through 2.0 sees an invite offered by the 1.98 support zone, after which comes 1.96.
GBP’s week ahead is dominated by Tuesday’s job and wage numbers, where disappointment could accelerate GBPAUD losses.
The market consensus looks for the unemployment rate to have reached 4.9% in October from 4.8% in September, reflecting rising job losses and inactivity rates.
Also, keep an eye on the wage figures, as this is closely associated with inflation. The figure to beat is 4.6%.
The Australian dollar will take cues from broader sentiment, where cues will be taken from further progress towards resolving the U.S. government shutdown.
There’s also a number of Federal Reserve speakers to keep an eye on, as this should inform the odds of another rate cut next month.
Any increase in bets for a rate cut will bolster the Aussie.
However, expect it to come under pressure if anything happens to lower those odds, as this would trigger safe-haven seeking at the expense of AUD.
An original version of this article can be viewed at Pound Sterling Live
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