FxWirePro: GBP/AUD poised for further downside after key fibo break

• GBP/AUD dipped on Tuesday as easing oil prices improved overall risk sentiment and supported higher-beta currencies like Australian dollar.

• Signs of possible diplomatic engagement between the U.S. and Iran helped stabilize markets, with WTI crude falling 7.0% and the DXY slipping 0.3% as safe-haven demand eased.

• Industrial metals extended gains, with nickel up 2.9% and copper rising 1.9%, both trading near or above pre-conflict levels amid renewed demand optimism

• U.S. March trade price data due Wednesday and Australia’s March employment report on Thursday, both likely to influence rate expectations.

• Markets will also watch remarks from RBA Deputy Governor Andrew Hauser, who is scheduled to speak Wednesday evening in Washington D.C., for any policy signals.

• Immediate resistance is located at 1.9125 (38.2%fib), any close above will push the pair towards 1.9092(SMA 20).

• Strong support is seen at 1.8892 (Lower BB), and break below could take the pair towards 1.8763(Lower BB).

Recommendation: Good to sell on  around 1.9060  with stop loss of 1.9120 and target price of 1.9000