FxWirePro: GBP/AUD gains some upside momentum but still bearish

• GBP/AUD edged higher on Tuesday as   traders   awaited  this week's major central bank decisions.

•  The Federal Reserve is expected to leave interest rates unchanged on Wednesday, while the Bank of England is also widely expected to keep policy steady at its July 30 meeting..

• Market participants will focus on policymakers' guidance for clues about the future direction of monetary policy.

• Geopolitical developments remained in focus after Oman proposed a Gulf-backed initiative to safeguard shipping through the Strait of Hormuz, while U.S. President Donald Trump said constructive talks with Iran were continuing, raising hopes for a lasting easing of regional tensions.

•Oil prices extended losses for a third consecutive session as the pause in hostilities between the United States and Iran fueled hopes for a diplomatic breakthrough.

• Immediate resistance is located at 1.9167(61.8%fib), any close above will push the pair towards 1.9210(SMA 20).

• Immediate support is seen at 1.8982 (50%fib) and break below could take the pair towards 1.8963(Lower BB).

Recommendation: Good to sell around 1.9070, with stop loss of 1.9120 and target price of 1.9000,