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FxWirePro: GBP/AUD downtrend loses steam but outlook still bearish

• GBP/AUD recovered some ground on Thursday as currencies early drop evaporated after U.S. jobs data. • GBP/AUD dipped but losses were limited by demand near the 23.6%fib support at 1.7423. • GBP/AUD remains bearsih , on…

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FxWirePro: GBP/AUD downtrend loses steam but outlook still bearish
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• GBP/AUD recovered some ground   on Thursday  as currencies early drop evaporated  after U.S. jobs data.

• GBP/AUD dipped but losses were limited by demand near the 23.6%fib support at 1.7423. 

• GBP/AUD remains bearsih , only a close back above 50%fib at 1.7840 , could upset the bearish order.

• Immediate resistance is located at 1.7573(5DMA ), any close above will push the pair towards 1.7549 (38.2%fib).

• Strong support is seen at 1.7491(Lower BB) and break below could take the pair towards 1.7300 (23.6%fib).

Recommendation: Good to sell around 1.7520, with stop loss of 1.7600 and target price of 1.7440
 

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