It could be time for the Australian Dollar to give back some of last week's impressive rally say a couple of investment bank analysts we follow.

GBP/AUD could potentially struggle this week to get back above even the nearby 1.86 handle.

The Australian Dollar is forecast to rise in 2022 by analysts at global lender and investment bank ING, but it also faces the greatest downside risks of its G10 peers.

The Australian Dollar is the most oversold it has been since the August 2021 - Westpac.

GBP/AUD benefiting from USD’s Fed-driven uplift and may attempt recovery of 1.86, if USD rises further.

Studies of GBP/AUD charts indicate an ambiguous outlook with the possibility of a reversal despite the downtrend remaining dominant.

In spite of recent recovery GBP/AUD remains in a downtrend and a break below 1.82 lows is required to confirm continuation.

GBP/AUD rate is trading at around 1.8200 at the time of writing after falling 1.15% in the week before. Studies of the charts suggest the pair will continue falling in line with the dominant downtrend.

GBP/AUD in short-term downtrend with no signs yet of reversal but a major support level could underpin current prices.