• GBP/AUD initially dipped but recovered some ground as rising uncertainty over U.S. President Donald Trump's threat of tariffs related to Greenland soured investor sentiment.
•Trump threatened to slap an additional 10% tariff on imports from eight European countries, including Britain, starting February 1 unless the U.S. is allowed to buy Greenland, fueling volatility across global markets.
• Data showed the UK jobs market softened ahead of the government’s November budget announcement, while wage growth slowed, potentially easing the Bank of England’s concerns over persistent inflation pressures.
•UK labor market data failed to generate a clear directional signal for sterling, as mixed readings left traders cautious and limited follow-through selling or buying in the pound.
• Immediate resistance is located at 2.0073 (SMA 20), any close above will push the pair towards 2.0134(38.2%fib).
• Immediate support is seen at 1.9930(23.6%fib) and break below could take the pair towards 1.9897(Lower BB).
Recommendation: Good to sell around 2.0000 with stop loss of 2.0100 and target price of 1.9870
