GBP/AUD has remained consistent since last Thursday. The pair is driven by the latest Brexit events. The UK parliament didn’t support Prime Minister Boris Johnson’s withdrawal deal in a Saturday voting, thus leaving room for a further delay beyond the current deadline set for October 31.

Currently, one British pound buys 1.8812 Australian dollars as of 05.11 AM UTC. The price has declined by 0.18% during the Asian trading session.

GBP/AUD is now trading very close to the bottom line of the sideways channel. If the price manages to break this line below, we might see it targeting the 1.866 territory, but it all depends on the fundamentals.

“Brexit Uncertainty” Becomes Tautology

Last week, after achieving the challenging milestone of reaching an agreement with the European Union (EU), Boris Johnson returned home with the hope that the Parliament would put an end to the Brexit story. But the last obstacle was the toughest one again, as the MPs didn’t back the deal. Instead, the parliament withheld its vote until formal ratification legislation is passed.

The British pound didn’t crash because there is a consensus that a no-deal Brexit will be avoided anyway. However, the current week is imperative for turning the UK boat in one direction or another.

The UK parliament will become the ground for some fierce battles in the coming days. We may see potential amendments calling for the UK remaining in the EU customs union or even another referendum. Any of these amendments would frustrate the Prime Minister, but at least they would also prevent a no-deal Brexit. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.