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FxWirePro: GBP/AUD buoyancy keeps consolidation intact, set for further gains

• GBP/AUD initially dipped but recovered ground on Friday after soft US payrolls data hinted Fed policy shift is drawing near.

• The U.S. economy added fewer jobs than expected last month. However, solid wage gains and a drop in unemployment to 3.5% signaled continued tightness in the labor market. .

• Technical signals are bullish as RSI is at 60, daily momentum studies 5,10 ,21 DMA  are trending up.

•  Immediate resistance is located at 1.9444( 23.6%fib), any close above will push the pair towards 1.9490 ( Higher BB).

• Strong support is seen at 1.9339 (5DMA) and break below could take the pair towards 1.9245 (38.2%fib).

 Recommendation: Good to buy around 1.9400, with stop loss of 1.9330 and target price of 1.9480

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