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FxWirePro:GBP/AUD neutral in the near-term, scope for downward resumption

• GBP/ AUD edged lower on Thursday  after data showed the biggest slump in UK construction activity since 2020

•   The S&P Global/CIPS UK construction Purchasing Managers' Index (PMI) tumbled to 45.0 in September from August's 50.8.

• GBP/ AUD   traded up to a daily high at 1.9192  before easing towards  1.9163 level

• A close below 50%fibsupport  puts 1.9000(Psycholoical level ) in focus and  then 61.8%fib support..

• Immediate resistance is located at 1.9203(38.2%fib), any close above will push the pair towards 1.9317 (30DMA).

• Immediate support is seen at 1.9072 (50%fib) and break below could take the pair towards 1.8941 (61.8%fib).

Recommendation: Good to sell around 1.9150, with stop loss of 1.9250 and target price of 1.9080

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