Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: GBP/AUD stays slightly bid after above forecast UK pay growth data

• GBP/ AUD steadied  around 1.9011  as  above-forecast UK pay growth data supported pound .

• Data showed regular wages, excluding bonuses, grew by 6.0% in the first three months of 2024 compared with the same period a year earlier. Economists polled had forecast wage growth of 5.9%.

• At (GMT 17:33 )the pair was up at 0.08 percent at 1.9011 , having touched day low at 1.8951 earlier in the day.

• A rally towards 1.9100 is   possible if  GBP/ AUD bulls overcome resistance at 38.2%fib.

• Immediate resistance is located at 1.9043( 38.2%fib), any close above will push the pair towards 1.9093 (May 3rd high).

• Immediate support is seen at 1.8910 (23.6%fib) and break below could take the pair towards 1.8846 (Lower BB).

Recommendation: Good to buy around 1.9000, with stop loss of 1.8900  and target price of 1.9070

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.