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FxWirePro: GBP/ AUD capped by the 50.0% fibonacci, good to sell on rallies

• GBP/ AUD initially gained on Thursday but gains eased  after US CPI, claims data.

• The U.S. consumer price index (CPI) rose 0.4% last month after climbing by the same margin in September

• The pair inability to hold gains above 1.7833 (50% fib), may increases the likelihood of a drop towards1.7550 level.

• Technical signals shows   short-term trend is bearish as RSI is lower at 49, daily momentum studies  5, 9 and 11 DMAs are trending  down. 

• Immediate resistance is located at 1.7685( 5DMA), any close above will push the pair towards 1.7833 (50% fib).

• Immediate support is seen at 1.7546 (38.2% fib) and break below could take the pair towards 1.7504 (Lower BB).

 Recommendation: Good to sell around 1.7700, with stop loss of 1.7800 and target price of 1.7580
 

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