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FxWirePro: GBP/AUD pauses decline, critical support lies ahead

• GBP/AUD  recovered some ground from early declined  on Friday after US payrolls data as market   assessed  Fed rate path. 

• Next week focus will be  on UK employment, U.S. CPI data and central bank appearances from the Fed and BoE.

• Bears have tightened their grip on this market,a break and  daily close under   38.2% fib support could deepen bearish outlook further.

• Technicals are bearish as daily RSI is at 46  , daily momentum studies  5, 9 and 10 DMAs are trending down. 

• Immediate resistance is located at 1.9097(50% fib), any close above will push the pair towards 1.9127 (21DMA).

• Strong support is seen at 1.9001(38.2% fib) and break below could take the pair towards 1.8971 (Dec 4th low).

Recommendation: Good to sell on  around 1.9080, with stop loss of 1.9180 and target price of 1.9000

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