Listen to the market mood for GBPAUD in the coming session:
The GBP should find sellers today as it faces a trio of problems. BoE members are preparing for a rate cut, a range of weak data from last week, and more challenging EU-UK trade talks to add to the bearish outlook.
The AUD should remain supported today on strong Industrial Production data from China last week, and risk-on flows remaining from the end of last week as Asian Indices trade broadly higher.
Expect GBPAUD sellers on pullbacks.
Risks to this outlook
If US-China trade relations sour, expect AUD weakness on a risk-off move. Any positive EU-UK trade talks will boost the GBP.