• GBP/AUD turned lower on Friday as the attracted sellers after surprisingly dovish Powell remarks.
• Powell said rate cuts would depend on data and risks, with his focus on the labor market leading investors to closely monitor the September 6 non-farm payrolls report for more clues
• Technical highlight downside risks for GBP/AUD, with momentum studies, 5, 10 and 21 DMAs tracking south.
• Immediate resistance is located at 1.9541 (38.2%fib ), any close above will push the pair towards 1.9648 (50%fib).
• Strong support is seen at 1.9434(38.2%fib ), and break below could take the pair towards 1.9296(23.6%fib).
Recommendation: Good to sell around 1.9500 with stop loss of 1.9470 and target price of 1.9430
