• GBP/AUD edged lower on Monday as markets turned cautious ahead of this week’s Bank of England and FOMC policy decisions.
• The Federal Reserve is expected to leave interest rates unchanged on Wednesday, a decision that may prompt additional criticism from officials within the Trump administration.
• The BoE bank's policy statement will be closely watched to assess the impact of U.S. tariffs on the policy outlook.
• Trading volumes were lighter than usual due to markets being closed in the U.K., Japan, Hong Kong and mainland China.
• Immediate resistance is located at 2.0725(50%fib ), any close above will push the pair towards 2.1011 (22rd April high).
• Strong support is seen at 2.0538(61.8%fib) and break below could take the pair towards 2.0477 (Lower BB).
Recommendation: Good to sell around 2.0560 , with stop loss of 2.0620 and target price of 2.0480
