• GBP/AUD initially rose but later pared gains as investors tracked the latest developments between the United States and Venezuela.
• Investors are closely monitoring developments in the ongoing U.S.–Venezuela dispute, along with recent comments by U.S. President Donald Trump regarding Greenland.
• Later this week, markets will focus on the UK’s November GDP figures, released soon after Rachel Reeves unveiled her budget.
•Until key data is released, the pound’s movements against major peers are being driven largely by external developments, particularly in the United States.
• Immediate resistance is located at 2.0125 (SMA 20), any close above will push the pair towards 2.0242(38.2%fib).
• Immediate support is seen at 1.9988(23.6%fib) and break below could take the pair towards 1.9959 (Lower BB).
Recommendation: Good to sell around 2.0080 with stop loss of 2.0160 and target price of 1.9950
