• GBP/AUD declined on Friday as demand for commodity linked currencies increased on optimism about Ukraine peace discussions.
• Ukrainian President Volodymyr Zelenskiy stated that he was open to discussions with Russian President Vladimir Putin, but only after Ukraine had aligned on a unified plan with U.S. President Donald Trump and European leaders.
• Next week, a series of key U.K. economic reports will capture attention, including employment data and the Consumer Price Index (CPI). These reports are expected to provide insights into the current state of the British economy.
• Technical signals show the pair could gain more ground in the short-term as RSI is bearish, daily momentum studies 14 and 21 DMAs are trending down.
• Immediate resistance is located at 1.985(38.2%fib), any close above will push the pair towards 2.0058(Higher BB).
• Strong support is seen 1.9800 (50%fib) and break below could take the pair towards 1.9606(61.8%fib)
Recommendation: Good to sell around 1.9800, with stop loss of 1.9720 and target price of 1.9860
