• GBP/AUD strengthened on Tuesday as risk sentiment improved, fueled by hopes that trade deals would be reached between US and UK.
• British Finance Minister Rachel Reeves announced that she would meet with U.S. Treasury Secretary Scott Bessent shortly to discuss a new economic partnership.
• The talks aim to address trade issues, with the UK hoping the outcome will lead to a reduction in its tariff levies imposed by the U.S.
• Prime Minister Keir Starmer said on Monday that Britain aims to secure an economic partnership with the U.S. while reducing trade barriers with key global partners in response to Trump's tariffs.
• Immediate resistance is located at 2.1452(38.2%fib), any close above will push the pair towards 2.1825(23.6%fib).
• Immediate support is seen at 2.1163( (50%fib) and break below could take the pair towards 2.0864(61.8%fib).
Recommendation: Good to buy around 2.1400, with stop loss of 2.1100 and target price of 2.1680
