• GBP/ AUD climbed on Thursday as traders turned their attention to U.S. tariffs and the risk of an intensifying global trade dispute, a day after finance minister Rachel Reeves' fiscal update.
•U.S. President Donald Trump on Wednesday announced a 25% tariff on imported vehicles, set to take effect on April 3, escalating the global trade war and further straining ties with allies.
• Britain has sought to avoid U.S. tariffs, arguing that both countries report trade surpluses with each other accounting for goods and services due to measurement differences..
• Trump’s reciprocal tariffs could shrink the British economy by up to 1% and deplete most of its fiscal buffer, the government's fiscal watchdog warned on Wednesday.
• Immediate resistance is located at 2.0585(23.6%fib), any close above will push the pair towards 2.0667(Higher BB ).
• Immediate support is seen at 2.0400( 38.2%fib) and break below could take the pair towards 2.0254(50%fib).
Recommendation: Good to buy around 2.0530, with stop loss of 2.0400 and target price of 2.0600
