• GBP/AUD firmed on Monday as hopes of US/Iran deal to end the conflict and restart oil flow aided risk sentiment
• Investors drew comfort from U.S. President Donald Trump's comment on Saturday that a framework to reopen the Strait of Hormuz had been "largely negotiated", while Iranian officials were in talks with Qatar's prime minister on a potential deal.
•The two sides remain at odds on several difficult issues that must be resolved if they are to bring an end to the three-month-old war.
•Trading volumes were light, as the U.S. and UK markets were closed for public holidays.
• Immediate resistance is located at 1.8972 (Higher BB), any close above will push the pair towards 1.8889(50%fib).
• Immediate support is seen at 1.8809 (38.2%fib) and break below could take the pair towards 1.8612(Lower BB).
Recommendation: Good to sell around 1.8830 with stop loss of 1.8900 and target price of 1.8750
