The Pound and Australia are two of the FX market's outperformers, which has left the GBP/AUD exchange rate tracking a sideways trend.

The Pound to Australian Dollar exchange rate has consolidated its rally into early August and could now be likely to trade within a narrow range just above the 1.93 handle over the coming days.

The Australian Dollar rose against all major currencies on Wednesday, weighing on GBP/AUD along the way, after local labour market figures surprised on the strong side of expectations for July.

The Pound to Australian Dollar exchange rate has receded from early August highs but economic data on both sides of the GBP/AUD equation could help the pair to steady above 1.9315 in the week ahead.