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FxWirePro: GBP/AUD recovers slightly but bias is still bearish

• GBP/AUD recovered some ground  on Thursdays   investors assessed Mideast Tensions and awaited upcoming UK GDP data

• Geopolitical tensions remain the dominant market driver, particularly the escalating conflict in the Middle East.

• Iran’s supreme leader has vowed to keep the Strait of Hormuz closed, escalating fears of disruptions to global oil supply.

•  Investors are watching key economic data this week, including the UK’s January GDP and output figures, along with U.S. durable goods orders, GDP, and the Core PCE index on Friday.

• Immediate resistance is located at 1.8864(Daily high), any close above will push the pair towards 1.9000(Psychological level).

• Strong support is seen at 1.8706 (23.6%fib ), and break below could take the pair towards 1.8639(Lower BB).

Recommendation: Good to sell on  around 1.8900 with stop loss of 1.8980  and target price of 1.8830

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