FxWirePro:GBP/AUD slips as Trade war fears resurface

• GBP/AUD fell on Friday as investors weighed the effects of President Trump’s latest trade threats amid ongoing global tariff uncertainties.

•   Trump’s call for a 50% tariff on all EU goods, announced via Truth Social, rattled global markets on Friday ahead of the proposed June 1 implementation..

• The news immediately triggered renewed tariff fears, reversing the relative market calm seen after recent U.S. agreements with China and the UK.

•On the data front, British retail sales rose in April thanks to sunnier conditions, while households showed signs of increased optimism this month .

• Technicals show RSI is heading down to 47, while daily momentum indicators for the 11, 14, and 21-day DMAs continue their downward trajectory, signaling bearish conditions.

• Immediate resistance is located at 2.1009(50% fib), any close above will push the pair towards 2.1200(38.2% fib).

• Strong support is seen at 2.0823(61.8% fib) and break below could take the pair towards 2.0703(20th May    low)

Recommendation: Good to buy  around 2.0920, with stop loss of 2.0850 and target price of 2.1000