• GBP/AUD softened on Thursday as Australian dollar firmed following strong Australia jobs data.
• Australia's unemployment rate rose in January despite stronger-than-expected job creation, presenting a mixed outlook for future interest rate cuts.
• The Australian Bureau of Statistics reported a net increase of 44,300 jobs in January, surpassing the 20,000 forecast. All gains were in full-time employment, which rose by 54,100.
• Figures from Wednesday revealed that wages rose only 0.7% in the December quarter, leading to an annual growth rate of 3.2%, significantly lower than the 4.2% peak seen earlier in 2023.
• Immediate resistance is located at 1.9910(38.2%fib ), any close above will push the pair towards 2.0003 (Higher BB).
• Strong support is seen at 1.9762(50%fib) and break below could take the pair towards 1.9690 (Lower BB).
• Recommendation: Good to sell on around 1.9800 with stop loss of 1.9900 and target price of 1.9720
