• GBP/AUD held steady on Tuesday amid European political angst and UK wage rise.
• Data showed that the British unemployment rate rose to 4.4% in April from 4.3%..
• Focus is now on a key inflation reading in the United States on Wednesday, followed by the Federal Reserve's next decision on interest rate cuts.
• Technical are bearish, daily RSI is positive at 59, daily momentum studies 11and 14 DMAs are trending down.
• Immediate resistance is located at 1.9380(June 10th high ), any close above will push the pair towards 1.9294 (23.6%fib).
• Strong support is seen at 1.9248(38.2%fib) and break below could take the pair towards 1.9111 (50%fib).
Recommendation: Good to buy around 1.9270, with stop loss of 1.9200 and target price of 1.9340
