GBPAUD – Trend reversal?

For much of the past few weeks, Sterling has been weakening against the Aussie Dollar. The downtrend lasted about 1,100bps, from 1.85 to 1.74.
Today, however, saw the first rebound. GBPAUD jumped nearly a hundred basis points to 1.77, thus completing the largest two-day gain in months. This rebound is likely to pause the downtrend over the intermediate term as GBP bears take profit.
On a macro note, we note the concerted move into safe-haven assets today, including currencies such as Yen and Dollar. EM currencies, however, declined across the board, some in a steep fashion as capital outflow gathers pace.
For GBPZAR, a massive upside breakout occurred, primarily driven by ZAR weakness. This upward dynamic is likely to lead to further gains for Sterling in the near term.
 

Compare Vetted Investing, Trading & Currency Accounts

Investing AccountsTrading PlatformsCurrency Transfers
Compare Investment Accounts

Compare Investment Accounts

Compare Trading Platforms

Compare Trading Platforms

Compare Currency Brokers

Compare Currency Brokers