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FxWirePro: GBP/AUD downtrend loses steam but outlook still bearish 
• GBP/ AUD strengthened on Wednesday but gains were limited as investors awaited UK May GDP and U.S. CPI data for policy path clues.
• UK May GDP data is due Thursday, data follows US June CPI data later in US session. Solid UK GDP print and a soft US CPI print is expected on Thursday.
•GBP/ AUD has run out of steam after hitting resistence at 1.9051, pair is like to fall further into bear territory.
• The technical outlook remains bearish and points to eventual bigger losses, Fourteen-day momentum is negative, reinforcing the scope for a bigger slump.
• Immediate resistance is located at 1.9051( 38.2%fib), any close above will push the pair towards 1.9130 (50%fib).
• Immediate support is seen at 1.8961 (23.6%fib) and break below could take the pair towards 1.8914(Lower BB).
Recommendation: Good to sell around 1.9040, with stop loss of 1.9160and target price of 1.8960
