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FxWirePro: GBP/AUD set for bigger drop, but close below key fibo needed

• GBP/AUD declined on Friday   after data showed that U.S. employers added more jobs than expected in April, while wages also grew more than economists' anticipated..

• Bears have tightened their grip on this market,A break, daily close under 38.2% fib  suppportcould deepen losses.

• Technicals continue to highlight downside risks  14-day momentum confirming price pick-up

• Immediate resistance is located at 1.8545 (11 DMA ), any close above will push the pair towards 1.8910 (23.6% fib).

• Strong support is seen at 1.8697 (38.2% fib) and break below could take the pair towards 1.8533 (50% fib).

Recommendation: Good to sell on  around 1.8700, with stop loss of 1.8780 and target price of 1.8610

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