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FxWirePro: GBP/AUD risks tilt further to the downside

• GBP/AUD dipped on Tuesday after the RBA kept its policy rate unchanged at 4.35%, in line with expectations.

• The RBA highlighted upside risks to inflation while noting that the housing market has been weaker than anticipated.

• U.S.-Iran negotiations remain uncertain as both sides seek reparations, raising the risk of delays to peace talks.

• Australian Q2 wage-price data and U.S. July CPI are due Wednesday, followed by U.S. July PPI on Thursday.

• RBA Assistant Governor Christopher Kent is scheduled to participate in a fireside chat in Sydney on Thursday.

• Immediate resistance is located at 1.9132(38.2%fib), any close above will push the pair towards 1.9308(Higher BB).

• Immediate support is seen at 1.9075(Aug 10 low) and break below could take the pair towards 1.8980(Lower BB).

Recommendation: Good to sell  around 1.9140, with stop loss of 1.9190 and target price of 1.9080

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