• GBP/AUD pushed to new highs on Friday as risk aversion and softer commodity prices put downward pressure on the Australian dollar.
• Geopolitical tensions in the Middle East stayed in sharp focus, as Israel and Iran remained locked in escalation.
• The White House said on Thursday that President Donald Trump would decide on the potential involvement of the United States in the conflict in the next two weeks.
• Brent crude futures slipped 2.3% to close at $77.01 a barrel, yet still notched a 3.6% gain for the week.
• Technical signals are strongly bullish as RSI is at 52, daily momentum studies 21, 50 and 100 DMAs are trending up.
• Immediate resistance is located at 2.0983(38.2%fib), any close above will push the pair towards 2.1119(April 11th high)
• Support is seen at 2.2803 (50DMA) and break below could take the pair towards 2.0605(50%fib).
Recommendation: Good to buy around 2.0820 with stop loss of 2.0750 and target price of 2.0960
