• GBP/AUD dipped on Monday as traders digested the fallout from the U.S. Supreme Court striking down tariffs and political uncertainty.
• President Donald Trump warned countries against stepping back from recently negotiated trade agreements, saying he could impose higher duties under alternative legal authority and potentially introduce license fees.
• The timing, scope of exemptions, and whether all countries will face a 15% tariff remain unclear.
• The UK and Australia were subject to 10%, while many Asian nations faced higher rates.It is still uncertain when the tariffs will take effect, what goods might be excluded, and if the 15% rate will apply universally.
• Immediate resistance is located at 1.9235(38.2%fib), any close above will push the pair towards 1.9326(SMA 20).
• Strong support is seen at 1.9007 (23.6%fib) and break below could take the pair towards 1.8921 (Lower BB).
Recommendation: Good to sell on around 1.9100 with stop loss of 1.9160 and target price of 1.8930
