Listen to the latest market mood for the GBPAUD pair.
Weak GBP, Strong AUD
The news over the weekend that the UK is set to go into new national lockdown measures should pressure the GBP to start the week. Pubs, restaurants, gyms, and non-essential shops are due to come into force from Thursday this week.
By contrast, Australia has recorded its first day of no local cases of COVID-19 in almost five months over the weekend. Health officials are now saying that more restrictions may be lifted in the coming days.
Therefore, expect GBPAUD sellers on pullbacks.
Trade Risks: The main risk to this trade is if there is any positive Brexit news which lifts the GBP.