FxWirePro: GBP/AUD bears maintain upper hand

• GBP/AUD edged lower  on Monday as investors braced for a wave of U.S. sanctions on Iran ​and its trading partners.

• President Donald Trump’s administration on Monday warned countries to reduce business ties with Iran or face secondary sanctions, describing the move as an “economic D-Day.

• U.S. Federal Reserve Chairman Kevin Warsh's debut ​speech at the ​annual Jackson Hole ⁠conference this week will also be on traders' radar as they seek guidance about the recent jump in bond yields ​and monetary policy outlook..

• Traders see a 58% chance of the Fed holding rates steady in September, while the probability of no hike falls to 43.8% in October and 25.7% in December, according to CME Group’s FedWatch tool..

• Meanwhile,Traders see UK benchmark interest rates rising by at ​least 25 basis points by December   , although most economists anticipate no change..

• Immediate resistance is located at 1.9123(SMA20), any close above will push the pair towards 1.9168(Higher BB).

• Immediate support is seen at 1.9005(50%fib) and break below could take the pair towards 1.8971(Lower BB).

Recommendation: Good to sell around 1.9080, with stop loss of 1.9120 and target price of 1.9000