How can I predict the GBP/AUD trend for 2023?

To make an accurate GBP/AUD trend prediction for today or forecast for 2023 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.

Why is Australia's GBP vs AUD so strong?

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.

What is GBP/AUD & how do I buy a British pound?

@DailyFXTeam Note: Low and High figures are for the trading day. GBP/AUD is the forex ticker that tells traders how many Australian Dollars are needed to buy a British Pound. The Pound is the fourth most traded currency in the world, with the Australian Dollar in fifth place, according to the Bank for International Settlements (2016).

Should you invest in GBP/AUD if you're a beginner?

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.