• GBP/AUD edged higher but gains were limited as falling oil and gilt yields offset support from narrowing Fed-BoE policy expectations and short-covering flows .
• Oil prices slipped after Trump said he refrained from launching fresh strikes on Iran, opting instead to pursue a rapid agreement to reopen the Strait of Hormuz..
• Market attention now turns to Friday's U.S. nonfarm payrolls report, which is expected to be the next major catalyst for GBP/AUD.
• On the data front, UK manufacturing activity expanded for a ninth straight month in July, although growth slowed to its weakest pace in four months, according to the latest S&P Global Purchasing Managers' Index.
• Immediate resistance is located at 1.9198(50%fib), any close above will push the pair towards 1.9358(38.2%fib).
• Immediate support is seen at 1.9153 (Aug 3rd low) and break below could take the pair towards 1.9047(61.8%fib).
Recommendation: Good to sell around 1.9200, with stop loss of 1.9280 and target price of 1.9100
