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FxWirePro: GBP/AUD hovers around 1.9260 as market await UK employment report for direction

• GBP/AUD initially dipped  on Monday but recovered some ground as investors will closely monitored the UK employment report.

• The UK will release its May employment report on Tuesday. Job growth in the UK has been contracting for a while, and this trend is anticipated to persist in May.  

• GBP/AUD steadies around  1.9260  after finding support  at 50%fib.

• Technical are bearish, daily RSI is postive at 57, daily momentum studies 14  and 21 DMAs are trending up. 
 
• Immediate resistance is located at 1.9364 (38.2%fib), any close above will push the pair towards 1.9405(Higher BB).

• Strong support is seen at 1.9236 (23.6%fib) and break below could take the pair towards 1.9150 (June 10th low).

Recommendation: Good to sell on  around 1.9250  , with stop loss of 1.9150  target price of 1.9320

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