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FxWirePro: GBP/AUD stuck In narrow band as recovery attempts fade

• GBP/AUD is  trading narrow range  as   fading risk appetite and cautious market sentiment kept investors cautious.

• Near-term moves in GBP/AUD are likely to be data-driven, with clearer signals on the UK economy expected from GDP data due next week and jobs figures the week after..

• Meanwhile, data on Thursday showed British house prices rose by a slower-than-expected 0.3% in the year to December.

• Attention now turns to Friday’s U.S. December jobs report, which could provide further clues on the Federal Reserve’s interest rate path.

• Immediate resistance is located at 2.0152 (SMA 20), any close above will push the pair towards 2.0203(38.2%fib).

• Immediate support is seen at 1.9980(23.6%fib) and break below could take the pair towards 1.9940(Lower BB)

Recommendation: Good to sell around 2.0050  with stop loss of 2.0120  and target price of 1.9920

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