Trading GBP/AUD
The GBP/AUD is an interesting currency pair for forex trading, offering high liquidity and volatility. Making accurate predictions about the exchange rate requires understanding live chart setups and keeping an eye on the news. Here we review the pair and cover why the GBP/AUD FX rate fluctuates, how to use graph data to perform technical analysis and the history of the currencies. We also list the best GBP/AUD brokers in 2024.
GBP/AUD Trading Brokers
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1
FOREX.comActive Trader Program With A 15% Reduction In Costs
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:50NFA, CFTCForex, Stocks, Futures, Futures OptionsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN -
2
NinjaTrader
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Stocks, Options, Commodities, Futures, CryptoNinjaTrader Desktop, Web & Mobile, eSignalACH Transfer, Debit Card, Wire TransferUSD -
3
OANDA USCFDs are not available to residents in the United States.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)OANDA Trade, MT4, TradingView, AutoChartistWire Transfer, Visa, Mastercard, Debit Card, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
4
IGForex trading involves risk. Losses can exceed deposits.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOBCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
5
Interactive Brokers
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$1001:50FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMAStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, CryptocurrenciesTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentralCheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit CardUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF -
6
Videforex20% to 200% Deposit Bonus
$250$0.011:500Binary Options, CFDs, Forex, Indices, Commodities, CryptoTradingViewSkrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB -
7
Axofa10% Deposit Bonus
$10.01 Lots1:1000SVGFSAForex, CFDs, Stocks, Indices, CommoditiesMT5Debit Card, Credit Card, Visa, Mastercard, Neteller, Skrill, Bitcoin Payments, Wire TransferUSD, IDR -
8
InstaTrade
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$10.011:1000BVI FSCFISP, CFDs, Forex, Stocks, Indices, Commodities, Cryptos, FuturesInstaTrade Gear, MT4Visa, Mastercard, Wire Transfer, Credit Card, Debit Card, Bitcoin Payments, Ethereum PaymentsUSD, EUR, RUB -
9
IQCent20% to 200% Deposit Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$250$0.011:500IFMRRCBinary Options, CFDs, Forex, Indices, Commodities, CryptoOnline Platform, TradingViewCredit Card, Debit Card, Wire Transfer, Bitcoin Payments, Ethereum Payments, Visa, MastercardUSD, EUR -
10
RaceOption20% - 200% Deposit Bonus
$250$0.011:500Binary Options, CFDsTradingViewCredit Card, Debit Card, Bitcoin Payments, Neteller, Skrill, Perfect Money, Mastercard, Visa, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB
Here is a short summary of why we think each broker belongs in this top list:
- FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.
- NinjaTrader - NinjaTraders supports the trading of popular currencies including the EUR/USD. The software also offers advanced features to streamline the trading experience, including complex order types like market if touched (MIT) and one cancels other (OCO).
- OANDA US - OANDA offers a diverse selection of 68 currency pairs, more than many alternatives. The broker’s in-house platform offers superb day trading capabilities via powerful TradingView charts, including 65+ technical indicators and 11 customizable chart types.
- IG - IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD.
- Interactive Brokers - IBKR presents an extensive range of over 100 major, minor, and exotic forex pairs, surpassing the offerings of nearly all leading alternatives, though not CMC Markets. Forex trading occurs over multiple platforms and boasts institutional-grade spreads starting from 0.1 pips and 20 complex order types, including brackets, scale, and one-cancels-all (OCA) orders.
- Videforex - Trade 35 major, minor and exotic forex pairs through CFDs with floating spreads from 0.1 pips. Alternatively, binary options allow you to speculate on rising and falling prices with a fixed stake and payout.
- Axofa - Axofa offers a decent range of 50+ forex pairs with raw spreads from 0.0 pips. Very high leverage up to 1:1000 and commission-free forex trading is available. With that said, the broker is not particularly transparent when it comes to account conditions and fees.
- InstaTrade - InstaTrade offers a huge selection of around 100 currency pairs. It provides spreads starting at 0.0 on majors, plus integrated forex analysis in the web platform, featuring signals, plus technical and fundamental summaries. Additionally, InstaTrade offers educational modules covering forex basics for beginners, including margin trading and risk management.
- IQCent - IQCent traders can access CFDs or binary options on 45+ forex pairs. CFD spreads start from 0.3 pips and binary options payouts are decent up to 95%. This is competitive compared to Pocket Option, for example, offering forex payouts up to only 81%.
- RaceOption - Trade 25+ major and minor currency pairs with access to over 30 technical indicators in the broker's proprietary terminal. You can also follow and replicate other forex trades using the integrated copy trader.
Trading GBP/AUD Comparison
| Broker | Forex Assets | EUR/USD Spread | Forex App Rating | Minimum Deposit | Regulator |
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80+ | 1.2 | / 5 | $100 | NFA, CFTC |
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50+ | 1.3 | / 5 | $0 | NFA, CFTC |
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65+ | 1.6 | / 5 | $0 | NFA, CFTC |
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80+ | 0.8 | / 5 | $0 | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB |
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100+ | 0.08-0.20 bps x trade value | / 5 | $0 | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA |
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35 | Floating from 0.1 pips | / 5 | $250 | - |
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10+ | From 1.6 pips | - | $1 | SVGFSA |
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65 | 0.0 | - | $1 | BVI FSC |
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49 | 0.3 | / 5 | $250 | IFMRRC |
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25+ | Floating | - | $250 | - |
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
Christian Harris, Reviewer
FOREX.com Quick Facts
| Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| GBPUSD Spread | 1.3 |
| EURUSD Spread | 1.2 |
| EURGBP Spread | 1.4 |
| Total Assets | 80+ |
| Leverage | 1:50 |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
Cons
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
NinjaTrader Quick Facts
| GBPUSD Spread | 1.6 |
|---|---|
| EURUSD Spread | 1.3 |
| EURGBP Spread | 1.6 |
| Total Assets | 50+ |
| Leverage | 1:50 |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Account Currencies | USD |
Pros
- Traders can get free platform access and trade simulation capabilities in the unlimited demo
- NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC
- Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
Cons
- Non forex and futures trading requires signing up with partner brokers
- The premium platform tools come with an extra charge
- There is a withdrawal fee on some funding methods
OANDA US
"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
OANDA US Quick Facts
| GBPUSD Spread | 3.4 |
|---|---|
| EURUSD Spread | 1.6 |
| EURGBP Spread | 1.7 |
| Total Assets | 65+ |
| Leverage | 1:50 |
| Platforms | OANDA Trade, MT4, TradingView, AutoChartist |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Pros
- Day traders can enjoy fast and reliable order execution
- The broker's API facilitates access to 25 years of deep historical data and rates from 200+ currencies
- The proprietary OANDA web platform continues to deliver a highly competitive charting environment, including 65+ technical indicators powered by TradingView
Cons
- There's only a small range of payment methods available, with no e-wallets supported
- The range of day trading markets is limited to forex and cryptos only
- It's a shame that customer support is not available on weekends
IG
"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
IG Quick Facts
| GBPUSD Spread | 0.9 |
|---|---|
| EURUSD Spread | 0.8 |
| EURGBP Spread | 0.9 |
| Total Assets | 80+ |
| Leverage | 1:30 (Retail), 1:250 (Pro) |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, providing ample diversification opportunities
- The IG app offers a superb mobile trading experience with a clean design that helped it secure Runner Up at our Best Trading App award
- The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
Cons
- While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
- IG applies an inactivity fee of $12 per month after 2 years, deterring casual investors
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Interactive Brokers Quick Facts
| GBPUSD Spread | 0.08-0.20 bps x trade value |
|---|---|
| EURUSD Spread | 0.08-0.20 bps x trade value |
| EURGBP Spread | 0.08-0.20 bps x trade value |
| Total Assets | 100+ |
| Leverage | 1:50 |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- With low commissions, tight spreads and a transparent fee structure, IBKR delivers a cost-effective environment for short-term traders.
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
- IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries.
Cons
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
- IBKR provides a wide range of research tools, but their distribution across trading platforms and the web-based 'Account Management' page lacks consistency, leading to a confusing user experience.
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
Videforex
"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."
Videforex Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| GBPUSD Spread | Floating from 0.1 pips |
| EURUSD Spread | Floating from 0.1 pips |
| EURGBP Spread | Floating from 0.1 pips |
| Total Assets | 35 |
| Leverage | 1:500 |
| Platforms | TradingView |
| Account Currencies | USD, EUR, GBP, AUD, RUB |
Pros
- You can easily mirror the trades of experienced investors with low fees
- Videforex regularly runs trading contests, offering great practice opportunities and cash prizes to beginners and experienced traders
- Global clients can make free and fast transfers via a wide range of payment types, from credit cards to cryptocurrencies
Cons
- No MetaTrader 4 integration
- US clients aren’t accepted due to legal restrictions
- The broker isn’t overseen by a trusted regulatory agency
Axofa
"Axofa could be a good option for clients looking for social trading features alongside the MT5 platform. The low entry requirements and ECN spreads are particularly promising, but the lack of transparency and respected regulatory oversight raises security concerns."
Axofa Quick Facts
| Bonus Offer | 10% Deposit Bonus |
|---|---|
| GBPUSD Spread | From 1.6 pips |
| EURUSD Spread | From 1.6 pips |
| EURGBP Spread | From 1.6 pips |
| Total Assets | 10+ |
| Leverage | 1:1000 |
| Platforms | MT5 |
| Account Currencies | USD, IDR |
Pros
- Low ECN spreads are available from 0.0 pips, plus reasonable commissions at $3.50 per side
- The $1 minimum deposit across all 3 accounts will appeal to novices and those on a budget
- The broker offers a range of local payment methods, especially for clients in Asia, as well as crypto deposits
Cons
- The offshore operations and lack of any regulatory oversight is a major concern
- Our team found inconsistencies between international subsidiaries and website information
- There is a lack of transparency around pricing and account conditions, which significantly reduces the trust score
InstaTrade
"Although InstaTrade offers active trading on a comprehensive platform, it stands out with its fairly unique Fixed Income Structured Product (FISP), providing passive investment opportunities with up to 50% returns in 6 months if conditions are met. "
InstaTrade Quick Facts
| GBPUSD Spread | 0.2 |
|---|---|
| EURUSD Spread | 0.0 |
| EURGBP Spread | 2.8 |
| Total Assets | 65 |
| Leverage | 1:1000 |
| Platforms | InstaTrade Gear, MT4 |
| Account Currencies | USD, EUR, RUB |
Pros
- Despite an average investment offering of around 300 assets, InstaTrade offers a particularly strong suite of currency pairs, catering to advanced traders seeking opportunities in volatile exotics.
- VPS hosting caters to algo trading strategies with a dedicated physical server providing rapid execution speeds as low as 9 milliseconds.
- InstaTrade delivers an excellent suite of charting tools for day traders with its web trader comprising 250+ indicators, 11 chart types and a user-friendly design.
Cons
- InstaTrade sports one of the most cluttered websites and client cabinets in the industry, potentially overwhelming new traders, especially compared to XTB’s intuitive trading journey and resources.
- Profits are only guaranteed in the FISP if investors do not reach the 50% profit level and attract other users with a total sum of $4 for each dollar in compensation.
- Marketing of the FISP, especially phrasing around the “guarantee of profitability” and the “elimination of risks of trading on financial markets” raises concerns.
IQCent
"IQCent will appeal to day traders looking for a straightforward binary options and CFD trading platform with low fees, a range of accounts, and copy trading. Getting started takes less than 1 minute and a $250 deposit. "
IQCent Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| GBPUSD Spread | 0.8 |
| EURUSD Spread | 0.3 |
| EURGBP Spread | 0.8 |
| Total Assets | 49 |
| Leverage | 1:500 |
| Platforms | Online Platform, TradingView |
| Account Currencies | USD, EUR |
Pros
- The broker's 24/7 customer support is fast and reliable, responding within 1 minute during tests
- There's an accessible $0.01 minimum stake for new day traders with a small budget
- Keen traders can take part in trading contests with cash prizes
Cons
- IQCent charges a punitive $10 monthly inactivity fee if you fail to place at least 1 trade per month
- IQCent trails binary brokers like Quotex with its narrow investment offering of around 100 assets with no stocks
- There's no automated trading support for algo traders
RaceOption
"RaceOption will appeal to traders new to binary options looking for copy trading, contests and 24/7 customer support. Experienced traders will also appreciate the account-based perks and bonuses."
RaceOption Quick Facts
| Bonus Offer | 20% - 200% Deposit Bonus |
|---|---|
| GBPUSD Spread | Floating |
| EURUSD Spread | Floating |
| EURGBP Spread | Floating |
| Total Assets | 25+ |
| Leverage | 1:500 |
| Platforms | TradingView |
| Account Currencies | USD, EUR, GBP, AUD, RUB |
Pros
- Well-optimised proprietary mobile trading app with instant execution, full trading history and responsive live charts
- Sign-up bonuses from 20%, plus weekly trading contests and prize giveaways
- Flexible weekend trading available plus 24/7 multilingual customer support
Cons
- No free demo account
- Limited educational resources
- Withdrawal thresholds apply
Live Chart
Why Trade GBP/AUD?
Many traders opt to buy or sell GBP/AUD each day, and there are several reasons to do so:
- Volatility – Price chart movement can be significant with this pair, and the spot rate can change with little notice. Experienced investors closely monitoring the live exchange rate can use this to their advantage and gain pips from the effect on spread values.
- Diversification – Choosing to trade on a non-major pair (i.e., without USD) allows forex investors to branch out and utilize distinct strategies to turn a profit.
- Range of financial instruments – The volume of the forex market is extensive. Thus investors can trade the GBP/AUD through many vehicles, including CFDs, options, and futures.
- Accessibility of information – GBP/AUD historical data is now freely available, and this makes investing straightforward. Traders can analyse 5, 10, or 20-year long-term charts or look at market sentiment over the last 7 days easily. Commentary and discussion forums also help new forex players make buy or sell decisions.
Risks Of Trading GBP/AUD
- Volatility – The large and sometimes unpredictable price changes in GBP/AUD can be difficult for beginners. And relying on a live currency rate forecast may not be enough to ensure success. Technical knowledge, such as pivot points and support/resistance levels, can prove key for achieving profits on volatile pairs.
- Complicated technical analysis – In today’s climate, GBP/AUD dollar investors regularly use complex conversion tools and indicators, for example, Elliott Wave analysis, to make long-term forecasts or projections for next week. Traders often have to be proficient in using chart analysis to compete against professionals and institutions who operate in the same market.
- Algorithmic trading bots – Using programs that provide automated GBP/AUD trading is now a common strategy, and so investors working manually must respond rapidly to market changes to stay competitive.
Factors Affecting GBP/AUD Price
To make an accurate GBP/AUD trend prediction for today or forecast for 2024 and beyond, it is important to understand how price is affected by economics and local events:
- Commodity exportation – Australia is a huge exporter of products such as iron ore, coal, natural gas, and gold. As such, commodity prices influence the strength of the Australian dollar and thus the GBP vs. AUD.
- Central bank monetary policy – Interest rates set by central institutions, along with any policy announcements, heavily affect the GBP/AUD outlook.
- Economic performance – The average exchange rate is likely to shift when economic growth is greater in one country, as this strengthens its currency.
We can see a mix of events that have impacted GBP/AUD. In May 2022, for example, the GBP was losing ground because of higher oil prices, inflation rates, and the Russian-Ukrainian war.
The Australian economy is also heavily based on commodities, and an increase in oil prices is beneficial. At the same time, because of its geographical position, it is less influenced by the Russia-Ukraine war. In contrast, the UK has a 9% inflation rate, which has negatively impacted consumer purchasing power. This makes the AUD a safer investment in the eyes of traders, hence why the GBP has been losing value.
Linked Currency Pairs
In addition to the influences already outlined, GBP/AUD followers can use the behavior of other currency pairs to provide real-time trading signals and ideas. This is because many pairs are correlated, and the price movement in one set can result in either change in the same direction (positive correlation) or opposite direction (negative correlation) in the other set:
- EUR/AUD – Traders may commonly see a positive correlation between the prices of GBP/AUD and this FX pair
- AUD/USD – Prices for this currency pair are usually the reverse of the movements seen in GBP/AUD
GBP/AUD Trading Strategy Considerations
Forex traders today need to know the pip value of the currencies they are working with, but above that must be aware of world events and use all available data to their advantage.
Trade
There is a long history of trade between the UK and Australia. The UK is Australia’s ninth largest two-way trading partner and the second-largest source of foreign investment in the country.
The pound had been a unit of currency since the 8th century and became a free-floating currency in 1971. The Australian pound was replaced by the dollar in 1966, which was then floated in 1983.
The highest rate for exchanging GBP into AUD dollars was recorded at 2.96 in August 2002, when the UK’s financial sector was buoyant and its economy robust. The GBP v AUD dollars price fell to its lowest rate of 1.36 in January 1985, when the AUD was strongest.
Historical Data
Investors in GBP to AUD can review historical data. Traders can track price changes across a range of time periods, for example, data from yesterday, the last 6 or 12 months, or even a 5-year history. Many clients choose to view this information on candlestick charts, which clearly depicts any movement information and can be used to visualize potential trends going forward.
News
Political and world events can greatly impact the GBP v AUD exchange rate, so traders should stay up to date with breaking news in respective countries and the knock-on impact on currencies. Local news, such as the BBC in the UK, offer real-time access to live announcements.
Brokers
Many firms offer GBP against AUD for forex trading, including IG and Oanda. Online brokers have different trading platforms (like MT4) that offer various tools and analytical capabilities. TradingView, DailyFX, Reuters, and Yahoo Finance are also popular choices for GBP to AUD research. They provide weekly outlooks, monthly averages, mid-market rate information, and interactive charts. Banks like HSBC, Westpac, and Interbank can also be useful resources of live graphs for exchange rates over time.
Forecasts
Many GBP vs. AUD investors use long-term FX forecasts to inform their strategy – for example, a graph of 10 years may calculate a trend of annual fluctuations and thus when a large investment might be appropriate. Equally, a GBP to AUD money 5-year forecast can display a medium-range mood and might predict the average rate over this period. These sentiment tools can also be used more close range, for example, for the week ahead or today.
Role Of GBP
The GBP is the oldest and fourth most traded currency in the forex space. The US dollar, and to a lesser extent, the euro, are considered the world’s unofficial reserve currencies. However, the pound is also held in reserve along with the Swiss franc and Japanese yen, indicating the important role it plays in the world economy.
Note, the Russia-Ukraine war, high oil prices, and inflation rates have recently negatively impacted the GBP.
Role Of AUD
The AUD follows the GBP as the fifth most traded currency in the forex market. With Australia being a key exporter, its rate is strongly influenced by commodity prices. It has close proximity to Asian economies, especially China, with its booming manufacturing sector and high requirement for resources. The AUD rate is heavily dependent on the degree of manufacturing output from these regions.
Final Word On Trading GBP/AUD
Forex investors trading GBP/AUD enjoy a volatile currency outside of the major pairs. Traders can use live exchange rate charts and technical analysis to make the most profit from this pair. Investors can also benefit from monitoring market news to pre-empt events that could affect the rate of GBP vs. AUD.
FAQs
How Do I Start Trading The GBP/AUD?
Investors will need to open a trading account with a forex broker to start buying and selling the currency pair. Look for a provider with tight spreads, leveraged trading opportunities, and user-friendly analysis tools.
Is GBP Going Up Or Down Vs. The AUD?
Rates are affected by many factors and can move rapidly, so be sure to check the most up-to-date news outlets and live charts for forecasts. Most top forex brokers offer a range of real-time trading tools.
Why Is The GBP Weak Against The AUD?
Like many economies, the UK has been affected by inflation, high oil prices, and the Russian-Ukrainian war. Even though it is not part of the EU, the UK’s pound is influenced by political events in Europe.
Is AUD Getting Stronger Against The GBP?
The GBP/AUD exchange rate fluctuates daily. With that said, because it is a commodity currency, higher oil prices have helped the AUD rise.
Is It A Good Time To Buy GBP/AUD?
Although the value of the AUD has been rising against a number of big currencies in recent years, geopolitical events and changes to commodity exports in Australia can impact the strength of the currencies. Conduct your own research before you take a position.
Where Can I find AUD GBP 10 Year History?
You can find a GBP to AUD graph for 5 years, 10 years, or even 20 years at various online sources. Try your broker first – many trading platforms have their own integrated historical charts. Another good option is TradingView.