Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD firms ahead Of upcoming UK data despite UK fiscal, political angst

• GBP/AUD  strengthened on Monday as gains were  driven by position squaring ahead of key UK economic data that could reinforce expectations for a more hawkish Bank of England stance.

• Market sentiment improved slightly as concerns over the U.S.-Iran conflict eased, supporting equities, while U.S. Treasury yields edged modestly higher.

• Investors are focused on upcoming UK labour market data on Tuesday and CPI/PPI inflation figures on Wednesday, which could provide important guidance for future BoE policy decisions.

• Despite the recovery in the pair, concerns over the UK’s fiscal outlook remain elevated, with 10-year gilt yields hovering near 5.10%, while political uncertainty continues to weigh on sentiment.

• Immediate resistance is located at 1.8812( SMA20), any close above will push the pair towards 1.8852(50%fib).

• Strong support is seen at 1.8549(23.6%fib) and break below could take the pair towards 1.8509 ( lower BB).

Recommendation: Good to sell around 1.8800, with stop loss of 1.8880 and target price of 1.8740

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.