Well let’s look at each pair separately first on an hourly technical level:
gbpusd
GBP/USD has been in a downtrend on the hourly since last Friday, Jan 29th, until its low, Feb 1st at 1.5848. If we draw a Fibonacci line from these two levels we see that the pair has slowly retraced all the way back up through the 100 hour moving average to the 61.8 % retracement around 1.6050, then almost to the 200 hour moving average and all the way back down hovering now between R1 and key support. Look to resistance levels (R1 & 100 hour MA at 1.5975, R2 1.6000/10, R3& 200 hour MA around 1.6050/75 ) above as good reference points for entries on the downtrend and a break of key support on the downside to next support level around 1.5731 which was the recent low on the daily.
The Reserve Bank of Australia surprisingly left its cash rate benchmark unchanged at 3.75% at its monthly monetary policy meeting. The decision took markets by surprise as a broad consensus among investors’ expectations pointed to a 0.25% rate hike for the fourth time in a row to 4.00%. The RBA was the first central bank in the G20 to raise rates since the recession, tightening three consecutive times since October last year. According to its recent statement, the information about the impact of those rate hikes is still limited and therefore it is “appropriate to hold a steady setting of monetary policy for the time being”. 
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