FxWirePro: GBP/AUD bulls gain momentum on hot U.S. Jobs data

• GBP/AUD  srose on Friday  as the pair attracted buying interest after upbeat U.S. jobs  data reinforced expectations that the Fed could maintain a hawkish policy stance for longer.

• Nonfarm payrolls increased by 172,000 jobs in May after rising by an upwardly revised ​179,000 in April, the U.S. Labor Department's Bureau of Labor Statistics said in its report.

• On the UK front, UK house prices unexpectedly fell by 0.1% in May, according to Halifax data released on Friday, marking another sign of cooling in the housing market as elevated borrowing costs and uncertainty linked to the Iran conflict weigh on demand.

• Traders expect the Bank of England to hold rates at 3.75% this month, but see scope for one or two 25 bps hikes later in the year.

•Investors are watching UK politics, as Labour mayor Andy Burnham indicated he could enter a leadership race against Prime Minister Keir Starmer if he wins the upcoming local election.

• Immediate resistance is located at 1.8966( Higher BB), any close above will push the pair towards 1.9012(50%fib).

• Strong support is seen at 1.8816(38.2%fib) and break below could take the pair towards 1.8764 (SMA 20).

Recommendation: Good to buy around 1.8920, with stop loss of 1.8850 and target price of 1.9000