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FxWirePro: GBP/AUD stuck in range, choppy price action persists

• GBP/AUD struggled to find direction on Tuesday after data showed US inflation slowed somewhat in November and British wage growth cooled  in October.

• Data released   showed U.S. consumer prices increased by 3.1% in the year ending at the end of November, Meanwhile ,British wage growth slowed by the most in almost two years, official data showed on Tuesday.

• Technical signals are mixed as RSI is turning up  , daily momentum studies  9 and 11 DMAs are trending down. 

• Immediate resistance is located at 1.9132 (50%  fib), any close above will push the pair towards 1.9198  (61.8%  fib)

•  Immediate support is seen at 1.9118 (14DMA) and break below could take the pair towards 1.9083 (38.2%fib B).

 Recommendation: Be on sidelines
 

  • Market Data
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