• GBP/AUD advanced on Monday as investors looked past the latest Middle East military strikes.
• Despite renewed geopolitical risks following U.S. and Israeli strikes on Iranian nuclear facilities, market sentiment remained relatively stable, as investors appeared cautiously optimistic that the conflict would not escalate into a broader regional crisis
• A survey released Monday showed British business activity expanded modestly in June, with new orders rising for the first time this year, though job cuts accelerated amid concerns over Middle East tensions.
• The S&P Global UK Composite PMI rose to 50.7 in June from 50.3 in May, signaling modest growth in the private sector and moving further above the 50.0 threshold that separates expansion from contraction.
• The UK services sector, which forms the backbone of the economy, posted its fastest growth in three months in June, outperforming both Germany and France during the same period.
• Immediate resistance is located at 2.1028(Higher BB), any close above will push the pair towards 2.1162(38.2%fib)
• Support is seen at 2.2803 (50%fib) and break below could take the pair towards 2.0668(Lower BB).
Recommendation: Good to buy around 2.0900 with stop loss of 2.0820 and target price of 2.1050
