GBPAUDGBP Weak at the moment has broken Support and heading towards Sentiment of Traders Target
After Mondays ridiculous Algo driven panic Sell off across the board Instruments are returning to the Norm.
Aprox 180 pips potential.
Other reason in my humble opinion.
The Australian dollar (AUD) is currently stronger than the British pound (GBP) due to the following key reasons:
Commodity Exports: Australia's economy benefits significantly from high demand and prices for key commodity exports like iron ore and coal, boosting the AUD.
Interest Rate Policies: The Reserve Bank of Australia (RBA) has maintained a more stable interest rate policy, attracting investors seeking better returns compared to the Bank of England's recent rate cuts.
Economic Performance: Australia's economic recovery has been more robust, with stronger GDP growth and lower unemployment rates compared to the UK, enhancing the AUD's strength relative to the GBP.