FxWirePro: GBP/AUD under pressure as pound continues to weaken

• GBP/AUD dipped  on Friday   as traders   assessed  Uk retails sales data and ongoing geopolitical developments Middle East  .

• President Donald Trump threatened Iran and its Houthi allies with "major military punishment," as the U.S. military carried out a 13th consecutive night of strikes.

• Trump said on Friday that he does not believe China or Russia are involved in the Iran conflict, warning any involvement would be "very bad" for them.

• Oil prices eased on Friday but remained on track for a fourth consecutive weekly gain, with prices surging more than 35% so far this month.

• On the data front, UK retail sales rebounded strongly in June, with volumes rising 1.0%, far exceeding economists' expectations for a 0.3% decline. The ONS also revised May's increase up to 1.2% and April's fall to a smaller 0.7% decline.

• Immediate resistance is located at 1.9196(38.2%fib), any close above will push the pair towards 1.9236(SMA 20).

• Immediate support is seen at 1.9077 (50%fib) and break below could take the pair towards 1.9020(Lower BB).

Recommendation: Good to sell around 1.9120, with stop loss of 1.9180 and target price of 1.9050