GBP/AUD Breaks Resistance Following UK GDP Data and RBA Policy Shift

Key Facts

The GBP/AUD currency pair broke through key resistance levels driven by UK GDP data. According to forex.com, the breakout was triggered by UK economic performance combined with the Reserve Bank of Australia's decision to raise rates while signaling a prolonged pause, which drained support from the Australian Dollar.

Data released on November 12, 2026, showed the UK Gross Domestic Product grew by 0.2% on a monthly basis and 1.9% year-on-year. Additionally, manufacturing production recorded a 0.7% increase on November 12, 2026, supporting the British Pound's momentum as the Australian Dollar faced reduced demand following the RBA's policy sentiment shift.

Market participants are looking ahead to the UK unemployment rate report scheduled for November 17, 2026, with forecasts at 4.9%. Furthermore, Bank of England Governor Andrew Bailey is set to deliver a speech on November 18, 2026, coinciding with the release of annual UK inflation data.