GBP/AUD technical analysis

The pound was the worst-performer once again this week while the Australian dollar led the way. If you're heard that before, it's because it was the same thing last week.

Since the early hours of 2017 trading, GBP/AUD has lost 800 pips and today was the first day higher after five consecutive days of losses.

And it doesn't get any better from here. The rebound today was very modest and yesterday it took out the mid-November support and the 61.8% retracement of the Nov-Dec rally. It's tough to find any kind of support before the November lows near 1.6000.