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FxWirePro: GBP/AUD bearish despite upside attempts

• GBP/AUD recovered some ground   on Tuesday  after Bank of England Governor Andrew Bailey reiterated that the BoE's stance on interest rates did not need changing.

• The rallied above 1.9100 level, lift stops after finding resistance at 1.9115 (14DMA).

• GBP/AUD remains vulnerable, a daily  break and   close below e 23.6%fib  support will shift bias towards 1.8950.

• Technical are bearish, daily RSI is negative at 48, daily momentum studies  11and 14 DMAs are trending down. 

• Immediate resistance is located at 1.9125 (14DMA ), any close above will push the pair towards 1.9194 (38.2%fib).

• Strong support is seen at 1.9026 (23.6%fib) and break below could take the pair towards 1.8928 (Nov 3rd low).

Recommendation: Good to sell   around 1.9140, with stop loss of 1.9200  and target price of 1.9050
 

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