• GBP/AUD dipped on Friday as Australian dollar was boosted by precious metals gains and easing geopolitical tensions.
• Precious metals, gold advanced with help from bargain-hunting, a slightly weaker dollar . Silver recovered from a 1-1/2-month low.
•Gold, a traditional safe haven, does well in times of geopolitical and economic uncertainty.
• Spot platinum added 5.4%to $2,093.50 per ounce, while palladium rose 6.2% to $1,717.05.
• Technical signals are bearish as RSI is at 25, momentum studies 11,14 and 21 DMAs are trending down.
• Immediate resistance is located at 1.9685 (38.2%fib), any close above will push the pair towards 1.9767(SMA 20).
• Immediate support is seen at 1.9326(23.6%fib) and break below could take the pair towards 1.9250(Lower BB).
Recommendation: Good to sell around 1.9440 with stop loss of 1.9500 and target price of 1.9350
