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
- 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.
- Vantage - Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
- IC Markets - IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.
- AvaTrade - AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.
- 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.
Trading GBP/AUD Comparison
| Broker | Forex Assets | EUR/USD Spread | Forex App Rating | Minimum Deposit | Regulator | Visit |
|---|---|---|---|---|---|---|
|
65+ | 1.6 | 4 / 5 |
$0 | NFA, CFTC | Visit |
|
55+ | 0.0 | 4 / 5 |
$50 | FCA, ASIC, FSCA, VFSC | Visit |
|
75 | 0.02 | 4.8 / 5 |
$200 | ASIC, CySEC, FSA | Visit |
|
50+ | 0.9 | 4.3 / 5 |
- | ASIC, CySEC, FSCA, ISA, CBol, FSA, FSRA, BVI, ADGM | Visit |
|
80+ | 1.2 | 4.9 / 5 |
$100 | NFA, CFTC, CIRO, FCA, CYSEC, ASIC, SFC, FSA, MAS, CIMA | Visit |
|
100+ | 0.1 | 4.7 / 5 |
$0 | FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB | Visit |
|
55+ | 1.6 | 4.7 / 5 |
$5 | ASIC, CySEC, DFSA, FSC, FSCA | Visit |
|
50+ | 0.0 | 3.6 / 5 |
$100 | ASIC, FCA, xCySEC, SCB | Visit |
|
45+ | Variable | 3 / 5 |
$0 | - | Visit |
|
60+ | 14 pips | 4.5 / 5 |
$10 | - | Visit |
|
80+ | 0.8 | 4.9 / 5 |
$0 | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA | Visit |
|
50+ | 1.2 | 4 / 5 |
$10 | FSC, FSA | Visit |
|
70+ | 1.58 pips (Ave) | 2.5 / 5 |
$100 | FCA, CySEC, FSCA, SCB, FSC | Visit |
|
70+ | 0.2 | 3.4 / 5 |
$0 | CySEC | Visit |
|
70+ | 1.0 | 4.8 / 5 |
$0 | FCA, CySEC, KNF, CNMV, DFSA, FSC | Visit |
#1 - OANDA US
Why We Chose 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.
"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."
- DayTrading Review Team
- GBPUSD Spread: 3.4
- EURUSD Spread: 1.6
- EURGBP Spread: 1.7
- Total Assets: 65+
- Leverage: 1:50
- Platforms: OANDA Trade, MT4, TradingView, AutoChartist
About OANDA US
OANDA is a popular brand offering exceptional execution, low deposit requirements and advanced charting and trading platform features. The top-rated brand has over 25 years of experience and is regulated by trusted agencies, including the NFA/CFTC. Around the clock support is available for short-term traders, alongside flexible contract sizes and automated trade executions.
Pros
- There's a strong selection of 68 currency pairs for dedicated short-term forex traders
- Beginners can get started easily with $0 minimum initial deposit
- The broker offers a transparent pricing structure with no hidden charges
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
#2 - Vantage
Why We Chose Vantage
Vantage offers 55+ currency pairs - above the industry average, so experienced traders can explore plenty of opportunities. Vantage's deep liquidity pool provides forex spreads from 0.0 pips in the ECN account, lower than many alternatives. There are also no commissions, deposit fees or hidden charges.
"Vantage remains an excellent option for CFD traders seeking a tightly-regulated broker with access to the reliable MetaTrader platforms. The fast sign-up process and $50 minimum deposit make it very straightforward to start day trading quickly."
- DayTrading Review Team
- GBPUSD Spread: 0.5
- EURUSD Spread: 0.0
- EURGBP Spread: 0.5
- Total Assets: 55+
- Leverage: 1:500
- Platforms: ProTrader, MT4, MT5, TradingView, DupliTrade
About Vantage
Founded in 2009, Vantage offers trading on 1000+ short-term CFD products to over 900,000 clients. You can trade Forex CFDs from 0.0 pips on the RAW account through TradingView, MT4 or MT5. Vantage is ASIC-regulated and client funds are segregated. Copy traders will also appreciate the range of social trading tools.
Pros
- There’s an excellent suite of day trading software, including the award-winning platforms MT4 and MT5
- It’s quick and easy to open a live account – taking less than 2 minutes
- Vantage maintains its high trust score thanks to its strong reputation and top-tier regulation from the FCA and ASIC
Cons
- A steep $10,000 deposit is needed for the best trading conditions, which include the $1.50 commission per side
- It's a shame that some clients will need to register with the offshore entity, which offers less regulatory protection
- Unfortunately, cryptos are only available for Australian clients
#3 - IC Markets
Why We Chose IC Markets
IC Markets maintains its commitment to providing exceptionally tight 0.0-pip forex spreads on major currency pairs such as EUR/USD. This makes it an excellent option if you are seeking superior execution, with an average of 35 milliseconds. Additionally, if you are a high-volume trader, you can benefit from rebates of up to $2.50 per forex lot.
"IC Markets offers superior pricing, exceptionally fast execution and seamless deposits. The introduction of advanced charting platforms, notably TradingView, and the Raw Trader Plus account, ensures it remains a top choice for intermediate to advanced day traders."
- DayTrading Review Team
- GBPUSD Spread: 0.23
- EURUSD Spread: 0.02
- EURGBP Spread: 0.27
- Total Assets: 75
- Leverage: 1:30 (ASIC & CySEC), 1:500 (FSA), 1:1000 (Global)
- Platforms: MT4, MT5, cTrader, TradingView, TradingCentral, DupliTrade
About IC Markets
IC Markets is a globally recognized forex and CFD broker known for its excellent pricing, comprehensive range of trading instruments, and premium trading technology. Founded in 2007 and headquartered in Australia, the brokerage is regulated by the ASIC, CySEC and FSA, and has attracted more than 180,000 clients from over 200 countries.
Pros
- You have access to over 2,250 CFDs across various markets, including forex, commodities, indices, stocks, bonds, and cryptocurrencies, allowing for diversified trading strategies.
- IC Markets offers fast and dependable 24/5 support based on firsthand experience, particularly when it comes to accounts and funding issues.
- With ultra-fast execution speeds averaging 35 milliseconds and deep liquidity, IC Markets provides an optimal trading environment for scalpers, hedgers, and algorithmic traders.
Cons
- While IC Markets offers a selection of metals and cryptos for trading via CFDs, the range is not as extensive as brokers like eToro, limiting opportunities for traders interested in these asset classes.
- Despite four industry-leading third-party platforms, there is no proprietary software or trading app built with new traders in mind.
- There are fees for certain withdrawal methods, including a $20 wire charge, which can eat into profits, especially for frequent withdrawals.
#4 - AvaTrade
Why We Chose AvaTrade
AvaTrade offers 50+ currency pairs with competitive spreads from 0.9 pips and zero commissions. You can trade majors, minors and exotics around the clock on industry-leading platforms, including MT4 and MT5. Traders can also access beginner-friendly trading tools and comprehensive forex education.
"AvaTrade offers the full package for short-term traders. There is powerful charting software, reliable execution, transparent fees, and fast account opening with a low minimum deposit."
- DayTrading Review Team
- GBPUSD Spread: 1.5
- EURUSD Spread: 0.9
- EURGBP Spread: 1.5
- Total Assets: 50+
- Leverage: 1:30 (Retail) 1:400 (Pro)
- Platforms: WebTrader, AvaTradeGO, AvaOptions, MT4, MT5, AlgoTrader, TradingCentral, DupliTrade
About AvaTrade
AvaTrade is a leading forex and CFD broker, established in 2006 and regulated across 9 jurisdictions. Over 400,000 users have signed up with the broker which processes over 2 million trades each month. The firm offers multiple trading platforms, including MT4, MT5, and a proprietary WebTrader. 1250+ financial instruments are available for day trading, alongside a comprehensive education center and multilingual customer support.
Pros
- Automated trading is supported through MetaTrader Expert Advisors (EAs), as well as the AvaSocial and DupliTrade tools
- The broker offers reliable 24/5 multilingual customer support with fast response times during testing
- There's a great range of fee-free deposit methods, including bank wire, credit cards and popular e-wallets like Skrill
Cons
- A high $2000 minimum investment is required to use DupliTrade, which will be out of reach for many beginners
- There’s an above-average $50 inactivity fee after three months, though this won't impact active day traders
- Traders from the US are not accepted
#5 - FOREX.com
Why We Chose 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.
"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."
- DayTrading Review Team
- GBPUSD Spread: 1.3
- EURUSD Spread: 1.2
- EURGBP Spread: 1.4
- Total Assets: 80+
- Leverage: 1:200 (Retail), 1:500 (Pro)
- Platforms: MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
About FOREX.com
Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
Pros
- 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.
- There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
- FOREX.com offers industry-leading forex pricing starting from 0.0 pips, alongside competitive cashback rebates of up to 15% for serious day traders.
Cons
- FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
- 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.
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
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 recently impacted GBP/AUD. In May 2022, for example, the GBP was losing ground because of higher oil prices, inflation rates, the Russian-Ukrainian war, and economic recovery from the Covid-19 pandemic.
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. And as this has risen in line with the global recovery from the Covid-19 pandemic, the price of the Australian Dollar has been positively impacted.
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, following Covid-19, the Australian dollar slowly recovered. Plus, 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.