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FxWirePro: GBP/AUD gives up early gains after UK GDP shock 
- AUD/JPY has breached major trendline support at 77 levels and hit session lows of 76.51 after RBA stays on hold.
- RBA Board decided to leave the cash rate unchanged at 1.75 percent, as widely expected and said that inflation is quite low and would remain that way for some time.
- Regarding the exchange rate, the RBA said that a rising A$ could complicate economic rebalancing.
- Data released earlier today was also weak, retail sales growth continued the weak trend in May, rising just 0.2% m/m after a downwardly-revised 0.1% rise in April.
- Consumer confidence has slipped a little in recent weeks and the uncertain political environment both domestically and abroad is likely to weigh on confidence going forward.
- Australia election vote count has begun again, although nothing conclusive has come through so far.
- On the 2-hourly charts AUD/JPY has slipped below 20-SMA at 76.98, Stochs and RSI are biased lower.
Recommendation: Good to sell rallies around 76.75/80, SL: 77.30, TP: 76.40/ 76
