• GBP/AUD eased slightly as the pairs bullish movement stalled as markets awaited further trade policy clarity.
• Trump's decision to impose 25% tariffs on goods from Canada and Mexico, coupled with a 10% levy on Chinese imports, raised concerns about a potential trade war that could hinder global growth and increase inflation.
• However, Trump announced a one-month pause on tariffs imposed on Mexico.
• The pair hit daily high at 2.0103, but retreated slightly , it was last down 0.03% at 1.9990.
• Technical signals are bullish as RSI is at 58, daily momentum studies 5,9,21 DMA are trending north.
• Immediate resistance is located at 2.0103(23.6%fib), any close above will push the pair towards c (Higher BB).
• Strong support is seen at 1.9929 (38.2%fib) and break below could take the pair towards 1.9778(50%fib).
Recommendation: Good to buy around 1.9950 with stop loss of 1.9850 and target price of 2.0180
