• GBP/AUD slipped below 1.9500 level as pair was weighed down by intensifying Russia-Ukraine war.
• Ukraine launched a volley of British Storm Shadow cruise missiles into Russia, marking the latest use of Western weapons on Russian targets, just a day after firing U.S. ATACMS missiles.
• On the data front, annual inflation rate in the UK rose to 2.3% in October, the highest in six months, up from 1.7% in September. This increase surpassed the Bank of England's target
• Technical signals are bearish as RSI lower at 43, daily momentum studies 11, 9 and 21 SMAs are trending down.
• Immediate resistance is located at 1.9462 (38.2%fib ), any close above will push the pair towards 1.954(SMA 11).
• Immediate support is seen at 1.9399 (Nov 19th low ), break below could take the pair towards 1.9342(23.6%fib).
Recommendation: Good to sell around 1.9440 with stop loss of 1.9570 and target price of 1.9320
