• GBP/AUD declined on Tuesday as investors assessed the evolving political landscapes in Britain and France..
• The Labour Party achieved a landslide victory in Thursday's election, pledging stability following a turbulent period marked by four Conservative Prime Ministers in five years.
• U.S. consumer price index figures and Britain's GDP data are scheduled for release later in the week, and these could impact the future paths of interest rate cuts in both economies.
• Technical signals are bearish as RSI at 41, daily momentum studies 21, 30 and 50 DMA’s are trending down.
• Immediate resistance is located at 1.9044 (38.2% fib), any close above will push the pair towards 1. 9107 (50% fib).
• Immediate support is seen at 1.89641(23.6% fib) and break below could take the pair towards 1.8900 (Feb 9th low).
Recommendation: Good to sell around 1.9000, with stop loss of 1.9100 and target price of 1.8950
