• GBP/AUD edged up Tuesday but gains were limited as uncertainty over BoE monetary policy and the domestic political landscape kept gains in check.
•Investors expect the outcome of the July 4 UK general election will not significantly influence the British currency.
• Market focus will shift to comments from BoE Governor Bailey on Thursday for more insight into the timing of the central bank's interest rate cut.
• Technical signals show the pair could lose more ground in the short-term as RSI is lower at 57, daily momentum studies 9, 11 and 21 DMAs are trending up.
• Immediate resistance is located at 1.9227(38.2%fib),any close above will push the pair towards 1.9130 (50%fib).
• Immediate support is seen at 1.9141(38.2% fib) and break below could take the pair towards 1.9070(50% fib BB)
Recommendation: Good to buy around 1.9180, with stop loss of 1.9100 and target price of 1.9260
