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FxWirePro :GBP/AUD positions for another drop, eyes 1.9100 level

• GBP/AUD dipped on Friday  as knock-on effects from French President Emmanuel Macron's gamble to call snap elections and weaker  UK GDP data for April weighed on the pound.

• Next week, the upcoming schedule includes UK Consumer Price Index (CPI), the Bank of England's interest rate decision, and preliminary PMI data.

• Technicals are favouring bearish sentiment as RSI is at 49 and the pair is trading below   5,10 & 11-DMAs.

• Immediate resistance is located at 1.9218 (50%fib), any close above will push the pair towards 1.9262(Daily high)

• Strong support is seen at 1.9159 (38.2% fib)and break below could take the pair towards 1.9080 (23.6% fib).

Recommendation: Good to sell  around 1.9200, with stop loss of 1.9300and target price of  1.9120

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