FxWirePro: GBP/AUD outlook weaker on renewed downside pressure

• GBP/ AUD declined as  on Wednesdays Australian dollar firmed  supported by improving risk sentiment amid renewed optimism that Iran peace negotiations could resume.

• U.S. President Donald Trump said the war he launched with Israel was "close to over" and the White House expressed optimism about a deal.

 • Markets now turn focus to Australia’s March employment report  with consensus expectations pointing to a gain of +20.0K jobs and the unemployment rate holding steady at 4.3%, a key read on labour market resilience.

• A miss would back dismal confidence surveys released on Tuesday that signalled the economy could be bracing for a sharp slowdown ahead, placing the RBA in a tricky spot as inflation accelerates.

• Attention will also be on RBA Assistant Governor Sarah Hunter, who is scheduled to speak in Washington D.C. on Thursday, with markets watching for any updated signals on inflation risks, labour market strength, and the policy outlook.

• Immediate resistance is located at 1.9039 (38.2%fib), any close above will push the pair towards 1.1911 (SMA 20).

• Immediate support is seen at 1.8883(SMA 20) and break below could take the pair towards 1.8783(23.6%fib).

Recommendation: Good to sell around 1.8930 with stop loss of 1.9000 and target price of 1.8800