• GBP/AUD dipped on Monday as traders digested easing U.S.-Iran tensions and awaited Bank of England policy decision .
• President Trump said the U.S. is holding "good talks" with Iran after both sides paused strikes, raising hopes for a diplomatic solution and the reopening of the Strait of Hormuz.
• The BoE is widely expected to leave rates unchanged at 3.75% on Thursday after inflation came in below the central bank's forecasts in June.
•However, economists and markets remain divided over the longer-term outlook, with higher energy prices threatening to complicate the inflation picture. Money markets are pricing in roughly an even chance of a September rate hike.e.
• Immediate resistance is located at 1.9132(50%fib), any close above will push the pair towards 1.9247(SMA 20).
• Immediate support is seen at 1.9046 (Lower BB) and break below could take the pair towards 1.8873(38.2%fib).
Recommendation: Good to sell around 1.9030, with stop loss of 1.9100 and target price of 1.8960
