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FxWirePro:GBP/AUD consolidating around 1.9190, room for further gains

• GBP/ AUD gained on Tuesday soured risk appetite ,falling  Iron-ore and  equity prices  weigh down  Australian dollar.

• Soft Australian consumer confidence data also weigh down on Australian dollar  as cost-of-living pressures and higher mortgage rates stoked concerns over finances, a survey showed on Tuesday.

• A close above 38.2%fib , will likely trigger a new bullish phase with potential for 1.9260. 

• Technical signals are strongly bullish as RSI is at 67, daily moving averages are trending up  . 

• Immediate resistance is located at 1.9191 (38.2%fib), any close above will push the pair towards 1.9284 (23.6%fib).

•  Immediate support is seen at 1.9094 (50% fib) and break below could take the pair towards 1.8991(61.8%fib).

 Recommendation: Good buy around 1.9180, with stop loss of 1.9100 and target price of 1.9260
 

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