Forex traders will start the new trading week with UK data in focus. The data covers the month of November, and economists predict that industrial and manufacturing production posted an annualized contraction. The construction and services sector is also expected to post a contraction in November. GDP data will front-and-center, but how will it impact the GBPAUD which faced with selling pressure? Today’s fundamental analysis will take a look at price action in both directions.

Australian data showed a small increase in monthly inflationary pressures, but the RBA remains open to cut interest rates in response to the bush fires. One estimate suggests the economy has lost over $20 billion so far, with a risk to tourism season likely to add to that figure. Will bears drive price action in the GBPAUD into a breakdown, or will bulls step in? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.