• GBP/AUD extends decline on Thursday as the Australian dollar strengthened after Australia’s June-quarter GDP data beat expectations .
• Australia’s economy expanded 2.1% in the year to June 30, seasonally adjusted, the latest National Accounts from the Australian Bureau of Statistics showed.
•The quarterly expansion was driven by solid contributions from the services sector, government spending and a rebound in exports.
· Oil prices remain sharply higher following renewed U.S.-Iran hostilities, adding inflationary pressure and potentially complicating the outlook for both the RBA and Federal Reserve
• Immediate resistance is located at 1.8859(38.2%fib), any close above will push the pair towards 1.9000(Psychological level).
• Immediate support is seen at 1.8774(Lower BB) and break below could take the pair towards 1.8709(23.6%fib%).
Recommendation: Good to sell around 1.8830, with stop loss of 1.9000 and target price of 1.8760
