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FxWirePro: GBP/AUD uptrend loses steam, remains on bullish path

• GBP/ AUD retreated slightly on Thursday     as investors digested softer-than-expected U.S. jobs report  

• U.S. job growth slowed more than expected in June ​and payroll gains for the prior two months were revised lower, pointing ​to a cooling labour market.

 • On the geopolitical front, Iran and the ​United States concluded ​a round of indirect ⁠talks with no sign they had made headway toward lasting peace.

•Meanwhile, British business confidence fell to its lowest level since 2022 in June, as the conflict between Iran and Israel drove up costs and weakened expectations for future sales, according to a survey released by accountants on Thursday.

• Immediate resistance is located at 1.9355 (Higher BB), any close above will push the pair towards 1.9401(23.8%fib).

• Immediate support is seen at 1.9233 (38.2%fib) and break below could take the pair towards 1.9168(July 1st low).

Recommendation: Good to buy around 1.9260, with stop loss of 1.9200  and target price of 1.9300

 

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