FxWirePro: GBP/AUD bulls lose traction, cannot add to overnight gains

• GBP/AUD  eased  slightly on Wednesday  as investors booked profits ahead of long weekend .

• The Bank of England meets next week, with markets currently seeing about a 50/50 chance of a rate cut.

• Thee Bank of England's first interest rate cut since 2020 hangs in the balance next week after recent higher-than-expected British services prices data.

• Pair traded in   1.9584/1.9750 range and was last trading at 1.9652 in  late US afternoon session.

•  Immediate resistance is located at 1.9714( 23.6%fib), any close above will push the pair towards 1.9768 (Higher BB )

• Strong  support is seen at 1.9560(38.2%fib ) and break below could take the pair towards 1.9448 (50%fib).

Recommendation: Good  to buy around 1.9650, with stop loss of 1.9550 and target price of 1.9700