• GBP/AUD dipped on Friday as pound attracted sellers after reports showed that British government had scrapped plans to increase income tax in its upcoming budget.
• A government source said Friday that Finance Minister Rachel Reeves has dropped plans to raise income tax in this month’s budget, unsettling investors who expected hikes to cover the fiscal gap.
• The FT’s initial report triggered a market selloff, with only a partial rebound after Reuters and others said improved fiscal projections were a key factor.
• Investors had grown confident after Reeves indicated she would take firm measures to meet her goal of balancing the budget by 2029/30..
• Immediate resistance is located at 2.0239(SMA 20), any close above will push the pair towards 2.0382(50%fib).
• Immediate support is seen at 2.0065 (23.6%fib) and break below could take the pair towards 1.9871(Lower BB).
Recommendation: Good to sell around 2.0250 with stop loss of 2.0350 and target price of 1.9950


FxWirePro: GBP/NZD downtrend loses steam but outlook still bearish
FxWirePro: GBP/NZD uptrend loses steam, remains on bearish path
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/CAD downside pressure builds, key support level in focus
NZDJPY Faces Downward Pressure as 95.40 Resistance Holds Firm
FxWirePro: EUR/NZD neutral in the near term, scope for downward resumption
FxWirePro: NZD/USD edges higher ahead of RBNZ decision
FxWirePro: GBP/USD cedes early gains ,outlook bearish
AUD/JPY Faces Downside Pressure Amidst Australian Dollar Weakness
FxWirePro: EUR/ AUD gains slightly but remains on bearish path
FxWirePro: GBP/AUD stuck in range but maintains bearish bias
FxWirePro: USD/JPY dips as Yen firms on BOJ rate-hike bets
FxWirePro: USD/JPY hovers near 160, outlook bullish
FxWirePro: USD/CNY hovers near 3 -1/2 year low , outlook bearish
Gold Tumbles Below $4400 Amidst Hawkish Fed Signals: Sell Rallies for Targets Near $4200
FxWirePro: USD/CNY dips as dollar weakens on US-Iran escalation 



