FX:GBPAUD   British Pound / Australian Dollar
Fundamental side of the idea :

The AUD by contrast is currently pressured alongside falling Iron prices. If these prices keep falling then AUD will face weakness. The Australian economy exports large amounts of Iron ore, so its price impacts the AUD.
On The Other side we are seeing Inflation climbing faster , and Metals are making new High , and that should serve and make AUD strong again .

Ultimately, the pound remains sensitive to the trajectory of UK inflation and the Bank of England’s monetary policy . UK inflation jumped to 1.5% in April from 0.7% in the prior month, though remains well below the BoE’s 2% target. There is certainly plenty of scope for the BoE to substantially tighten monetary policy should it view inflation as a threat, a development that could be significantly bullish for the pound. But we still Far away from that .

Technical side of the idea :

According to the technical analysis of the pair: So far, despite the weakness of the upward Trend , i am seeing a significant weakness on GBP , starting from forming a continuation pattern , to not breaking above some Fib Levels that were critical .

P.S : The weak US dollar provides some reason to be Bullish on the Australian Dollar .

Thank you .

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