In the currency pair GBPAUD the British pound represents base currency, and Australian dollar - quoted. The price of the GBPAUD tool determines how many Australian dollars it is necessary to buy one British pound sterling. Great Britain and Australia are united by centuries-old communications and an intensive commodity turnover, but also close trading and economic relations of Australia with New Zealand and the USA have a noticeable impact on the behavior of the tool.
The US dollar has an essential impact on GBPAUD therefore while forecasting further movements of a currency pair, it should be taken into account not only the main fundamental data from Great Britain and Australia but also from the USA. Special attention should be paid on the GDP level, reports on unemployment and the level of interest rate.
The Australian dollar is considered an export-oriented commodity currency, which closely correlates with prices on gold and oil. The Australian dollar is one of the most traded currencies in the international Forex market, and the British pound sterling is considered one of the most stable currencies.