• GBP/AUD firmed on Monday as markets reacted to easing geopolitical tensions after Trump postponed strikes on Iran, signaling a temporary de-escalation.
• The comments came hours ahead of a deadline that threatened further escalation in the conflict, now in its fourth week.
• British Prime Minister Keir Starmer said on Monday there had been no assessment that mainland Britain was being targeted by Iran.
• Starmer also said that any attempt to reopen the Strait of Hormuz needed careful consideration and a viable plan, and that his number one priority was to protect British interests and de-escalate.
• Investors now focus on Australia’s February monthly CPI release on Wednesday, which could influence RBA interest rate expectations and further AUD movement.
• Immediate resistance is located at 1.9193 (38.2%fib), any close above will push the pair towards 1.9231(Higher BB).
• Strong support is seen at 1.8961 (Lower BB ), and break below could take the pair towards 1.8698 (23.6%fib).
Recommendation: Good to sell on around 1.9170 with stop loss of 1.9250 and target price of 1.9120
