• GBP/AUD traded narrow range on Thursday as traders geared up for the release of the US Nonfarm Payrolls data scheduled for Friday.
• Traders hoped for signs of a weaker labour market to boost chances of a rate cut by the Federal Reserve as early as March.
• The pair has seen a 1.9232 -1.9052 range on Thursday. A close below 23.6%fib support at 1.9052 will give further momentum to bears.
• Immediate resistance is located at 1.9125 (5DMA), any close above will push the pair towards 1.9204 (38.2%fib).
• Strong support is seen at 1.9052 (23.6%fib) and break below could take the pair towards 1.9033(23.6%fib).
Recommendation: Good to sell around 1.9100, with stop loss of 1.9280 and target price of 1.9020
