• GBP/AUD eased slightly on Monday as investors digested UK - EU trade deal and awaited UK upcoming CPI data.
• Nearly nine years after voting to leave the bloc, Britain reached a comprehensive deal with the EU that includes a security and defense pact, eased restrictions for British food exporters and visitors, and a contentious new fishing agreement.
•Britain said the reset with its biggest trading partner will cut red tape for farmers—lowering food costs—boost energy security, and add nearly £9 billion ($12.1 billion) to the economy by 2040, which is valued at around £2.6 trillion.
• The UK Consumer Price Index (CPI) data is scheduled for release on Wednesday. This key inflation indicator will provide crucial insights into the current state of price pressures within the British economy.
• Investors will closely watch the figures to assess trends in consumer prices, which impact purchasing power and economic growth prospects.
• Immediate resistance is located at 2.0817(50% fib), any close above will push the pair towards 2.1016(Higher BB).
• Strong support is seen at 2.0519(61.8% fib) and break below could take the pair towards 2.0463(Lower BB)
Recommendation: Good to buy around 2.2500, with stop loss of 2.0380 and target price of 2.0600
