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FxWirePro: GBP/ AUD gently bid,a close above a key level needed to tighten grip

• GBP/ AUD staged a recovery on Thursday as the pair bounced back from an early dip as traders seek additional clarity on the Bank of England's rate expectations. 

• Choppy overnight action leads to a short lived dip but, buyers emerged near 1.9315,  pair nears the 38.2% fib.

• Technical signals are slightly bullish as RSI is at 54 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 1.9388 ( 38.2% fib), any close above will push the pair towards 1.9513(23.6%fib).

• Immediate support is seen at 1.9352 (5DMA) and break below could take the pair towards 1.9257 (50% fib).

 Recommendation: Good to buy around 1.9350, with stop loss of 1.9280 and target price of 1.9450
 

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