• GBP/AUD dipped on Wednesday as pound struggled to find support as cautious sentiment dominated markets.
• A thin UK economic calendar kept traders focused on U.S. economic developments and political concerns.
•On the data front, UK construction activity shrank for a 12th straight month in Decemberthe longest downturn in nearly two decades though an industry survey showed growing optimism for 2026.
•The S&P Global/CIPS Purchasing Managers' Index (PMI) for the sector came in at 40.1 in December, not much higher than its 5-1/2-year low of 39.4 in November..
•A daily close above 38.2%fib will further improve the technical outlook, and open the possibility of a rally towards 2.0100 level
• Immediate resistance is located at 2.0146 (SMA 20), any close above will push the pair towards 2.0262 (38.2%fib).
• Immediate support is seen at 1.9987(23.6%fib) and break below could take the pair towards 1.9962(Lower BB).
Recommendation: Good to sell around 2.0140, with stop loss of 2.0240 and target price of 2.0070
