The GBP/USD pair fell on Wednesday as it finally broke through the bottom of the recent consolidation area between 1.62 and 1.65 or so. The pair will also find support at the 1.60 area, so we are expecting choppy but negative motion in the near term. With the UK riots going on, and the issues in Europe - one has to feel that a lot of money could be flowing into the US soon.
The AUD/USD pair has fallen again on Wednesday, but remains in a new consolidation area between 1.01 and 1.04. The pair seems to have a ton of support at the parity to 1.02 level, and should continue to receive a bid at these levels. However, with the recent massive down move, we could see a bit of a rest over the next few days in this pair.
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