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FxWirePro: GBP/AUD steadies around 1.9275, retains bid tone

• GBP/AUD held steady   on Tuesday amid European political angst and UK wage rise.

• Data showed that the British unemployment rate rose to 4.4% in April from 4.3%..

• Focus is now on a key inflation reading in the United States on Wednesday, followed by the Federal Reserve's next decision on interest rate cuts.

• Technical are bearish, daily RSI is positive at 59, daily momentum studies  11and 14 DMAs are trending down. 

• Immediate resistance is located at 1.9380(June 10th high ), any close above will push the pair towards 1.9294 (23.6%fib).

• Strong support is seen at 1.9248(38.2%fib) and break below could take the pair towards 1.9111 (50%fib).

Recommendation: Good to buy around 1.9270, with stop loss of 1.9200  and target price of 1.9340
 

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