FxWirePro: GBP/AUD recovers slightly but bias is still bearish

• GBP/AUD recovered some ground  on Friday as   investors assesed Mideast Tensions and below forecast payroll data

• Geopolitical tensions remain the dominant market driver, particularly the escalating conflict in the Middle East.

• U Concerns about energy supply have intensified after Kuwait announced production cuts, adding to the disruption already caused by the regional conflict.

• Brent crude prices have surged above $90 per barrel, increasing inflation fears and pushing investors toward safer assets such as the U.S. dollar..

•  The U.S. economy unexpectedly lost jobs in February, while the unemployment rate rose to 4.4%, signalling possible labor market weakness and complicating the Federal Reserve’s policy outlook amid rising oil prices.

• Immediate resistance is located at 1.9157(38.2%fib), any close above will push the pair towards 1.9415(50%fib).

• Strong support is seen at 1.8834 (23.6%fib ), and break below could take the pair towards 1.8718 (Lower BB).

Recommendation: Good to sell on  around 1.9070 with stop loss of 1.9120  and target price of 1.9000