• GBP/AUD dipped on Tuesday as investors weighed the likelihood of potential U.S.-Iran talks to end the Middle East conflict.
• Market sentiment remains heavily influenced by geopolitical developments, particularly the approaching U.S.-Iran ceasefire deadline on Wednesday evening.
• Uncertainty is elevated as Iran has yet to confirm whether it will participate in talks, leaving traders cautious and limiting conviction in directional moves.
•Political developments in the UK are also in focus. Keir Starmer is facing increased scrutiny following new testimony related to his choice of envoy to the United States, adding to near-term political uncertainty. Meanwhile.
• On the data front, Britain's labour market cooled only marginally in the three months to February, with pay growth easing less than expected and unemployment falling largely due to students leaving the workforce.
• Immediate resistance is located at 1.8906(38.2%fib), any close above will push the pair towards 1.9055(50%fib).
• Immediate support is seen at 1.8761(Lower BB) and break below could take the pair towards 1.8712(23.6% fib).
Recommendation: Good to sell around 1.8920, with stop loss of 1.9000 and target price of 1.8800
