GBPAUD chart by TradingView


This pair denotes how many Australian Dollars are needed to purchase one British Pound. Often, the Australian Dollar is referred to as a risk currency due to its relatively higher interest rates and correlation to global equity markets. The British Pound depreciated relative to the Australian Dollar after 2008 and only began making a significant rebound in 2013 in light of declining growth in China and a slowdown in the global commodity supercycle, which has hurt Australia's largest sector, mining.


GBPAUD Range Break to Determine Next Leg- Constructive Above 1.62

The risk remains for another low in GBPAUD before resumption of the broader uptrend. Here are the updated targets & invalidation levels that matter.
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