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FxWirePro :GBP/AUD trends higher, but faces potential pitfalls

• GBP/AUD firmed on Monday  as retreat   metal prices and soured risk sentiment  weighed on  Australian dollar.

• Spot gold prices slipped 4.3%, while silver slid 8.3% after touching a record peak above $80 an ounce earlier in the session as investors

• Gold has surged about 65% this year. Platinum and palladium are also on track for annual gains.

• Silver has outperformed all with a 150% gain so far, driven by its critical mineral status, supply shortages and rising industrial and investor demand.

• Immediate resistance is located at 2.0210 (38.2%fib),any close above will push the pair towards 2.0291 (Higher BB ).

• Immediate support is seen at 2.0025 (Lower BB) and break below could take the pair towards 2.0071 (23.6% fib)

Recommendation: Good to buy around 2.0150 with stop loss of 2.0080 and target price of 2.0220

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