The Australian Dollar-to-Pound Sterling forecast is an indication of where technical and fundamental analysts think the GBPAUD price may be in the future. You can use these exchange rate forecasts to help you decide if now is the right time to buy Britsh Pounds with Aussie Dollars, or if you should wait until the price improves.
How many Pounds does 1 Australian Dollar get at the live exchange rate?
At the live current AUDGBP exchange rate 1 AUD is worth 0.505243 GBP which is a change of -0.01% from the previous day’s closing price. Over a week AUDGBPis -0.01%, compared to its change over a month of -0.46% and one year of -2.56%.
AUDGBP exchange rate data is updated every 15 minutes.
GBPAUD Forecast highlights
- GBPAUD retraces from 2.0 again, suggesting near-term AUD strength
- GBP’s long-term strength is under pressure as UK growth outlook dims; rate is technically vulnerable
- Wait to buy GBP on a rate drop to 1.950-1.900
How has GBPAUD performed recently
While Sterling had a tough time against the greenback, versus the Aussie Dollar its performance is far more comforting.
Sterling managed to retain the pattern of rising lows and even re-test the 2.00 psychological level (see below). But this advance was swiftly rejected, thus pulling the rate back to 1.970.
The big question now is whether GBPAUD’s uptrend can be maintained over the medium term, especially when UK’s growth outlook is gradually dimming.
Technically a sustained drop below 1.950 is needed to break the uptrend support. A break below the prior reaction low at 1.960 is the first warning signal that price may slide further.
Is it a good time to buy GBP?
By historical standards, whenever GBPAUD hit 2.0 and above (that is, two Aussie dollars to one pound Sterling), that usually is the lower side of the exchange rate’s range.
The last time this FX crossed above the 2.0 threshold was back in 2020 during the covid pandemic. Once the initial fear and panic subsided, however, the rate quickly dropped below 2.0.
Therefore should you buy Sterling now when the rate is near 2.0? Wait if you can.
Historically this is an unfavourable rate to change GBP. Moreover, GBPAUD appears wobbly around 2.0 and a further pullback (to 1.940) is not to be ruled out.
Will GBP get stronger?
Sterling has been trying to hang on to its strength since last Autumn. But it appears the bulls are fighting a losing battle. Macro trends are slowly turning against Sterling.
In the last monetary report just a few days back, the UK central bank glumly noted that “GDP growth has been weaker than expected at the time of the November Monetary Policy Report, and indicators of business and consumer confidence have declined.”
This is not to say the Australian economy is not without problems. But in the next meeting the Reserve Bank of Australia is predicted to start cutting rates. The rate is currently stuck at an elevated 4.35 percent. This may help to revive the local economy.
The rate may trade below 2.0 for a little while longer.
What is the GBPAUD forecast in weeks?
Most brokers in the financial community are fairly bearish on GBP. They expect Sterling to retreat against AUD in the next few months.
For example, according to the range of forecasts gathered by exchangerates.org.uk, most of the predicted rates are below the current level at 1.970 (see below).
The sharp curve down 12 months out is very negative.
But whether these bearish outlook will materialise is hard to say since the current macro currents are highly volatile. For now, we focus on the 1.950-1.900 area before taking a view too far out.
Source: ExchangeRates.org.uk
Where is the best place for buying large amounts of Pound Sterling from Australian Dollars
There are two different ways people buy GBP from AUD:
- Through a currency broker – when transferring money abroad
- Through a forex broker – when speculating on the price of currency
You can use this comparison table of AUD currency transfer companies to see how many currencies they offer, what the minimum GBP transfer is and if they offer forwards and currency options as well as when they were established. You can either visit each currency broker individually or use our currency quote comparison tool to request multiple exchange rates.
Or, if you are more interested in trading GBPAUD you can compare Australian forex brokers here.
Jackson is a core part of the editorial team at GoodMoneyGuide.com.
With over 15 years industry experience as a financial analyst, he brings a wealth of knowledge and expertise to our content and readers.
Previously Jackson was the director of Stockcube Research as Head of Investors Intelligence. This pivotal role involved providing market timing advice and research to some of the world’s largest institutions and hedge funds.
Jackson brings a huge amount of expertise in areas as diverse as global macroeconomic investment strategy, statistical backtesting, asset allocation, and cross-asset research.
Jackson has a PhD in Finance from Durham University and has authored nearly 200 articles for GoodMoneyGuide.com.
You can contact Jackson at jackson@goodmoneyguide.com
