FxWirePro: GBP/AUD downside pressure builds, key support level in focus

• GBP/AUD eased on Wednesday   as uncertainty surrounding U.S. tariff talks prompted a cautious trading environment.

• Meanwhile, the release of the Federal Reserve’s latest meeting minutes offered little new insight on the path of U.S. monetary policy.

• The Fed reiterated its data-dependent approach, and while there was narrow support for a rate cut later this month, no consensus was reached.  

• Looking ahead, attention now shifts to key economic data releases. U.S. jobless claims are due Thursday, while Friday brings both UK GDP figures and the U.S. Consumer Price Index (CPI)

• Technical indicators are bearsihh, with the RSI at 47 and both the 5- and 9-day moving averages trending south wards .

•  Immediate resistance is located at 2.1035(38.2% fib), any close above will push the pair towards 2.1114 (Higher B).

•    Strong support is seen at 2.0718(50%fib) and break below could take the pair towards 2.0604(Lower BB).

Recommendation: Good to sell  around 2.0860, with stop loss of 2.0950 and target price of 2.0800