• GBP/AUD was little changed on Tuesday as the pair failed to find direction as traders continue to assess the political and monetary outlook.
• Meanwhile, British retailers reported lacklustre sales in November, according to industry data that, while affected by the timing of Black Friday sales, still pointed to weakening consumer confidence.
•The Bank of England is widely seen holding interest rates later in December due to concerns about resurgent inflation.
• Looking ahead, with this week's US payrolls report being the key point data to watch, choppy conditions are likely to persist for now.
• Immediate resistance is located at 1.9621 (38.2%fib), any close above will push the pair towards 1.9721 (23.6%fib)
• Strong support is seen at 1.9524(50% fib)and break below could take the pair towards 1.9434 (61.8% fib).
Recommendation: Be on sidelines
