Although the Aussie economy is being squeezed from both domestic and international sides as global growth slows in the face of an escalating U.S.-China trade war, Australia is now running like the largest current account surplus ever which is a very bullish signal. Also iron ore price is at five year all time high.
- Gold’s long-term prospect is up, up and up, and the reason why is money supply is up, trade wars. - global monetary easing which will continue to create strong demand for hard assets.
It's seasonal, GBP is stronger than USD. The market clears weak counter macro trend speculators by itself. GBP recovery should follow.