FxWirePro: GBP/AUD gains some upside momentum but still bearish

• GBP/AUD recovered some ground  on Friday as   as investors awaited outcome of weekend talks between the U.S. and Iran in Islamabad

• Iran has flagged Israel’s continued strikes on Lebanon as a major obstacle in its ceasefire deal with the U.S., which includes reopening the Strait of Hormuz—a key route for roughly 20% of global energy flows..

• Delegations from Tehran and Washington are set to hold talks in Pakistan on Saturday.

• The Strait of Hormuz remains largely shut to shipping, with traffic running at well below 10% of normal levels on Thursday as Iran tightened its grip on the key waterway.

•  In a Truth Social post, U.S. President Donald Trump warned Iran against charging tolls on ships passing through the Strait of Hormuz, saying Tehran was doing a “very poor job” of allowing oil to flow through the key route.

• Immediate resistance is located at 1.9075 (38.2%fib), any close above will push the pair towards 1.9152(April 7th high).

• Strong support is seen at 1.8959 (Daily low), and break below could take the pair towards 1.8792(SMA 20).

Recommendation: Good to sell on  around 1.9060 with stop loss of 1.9100 and target price of 1.9000