• GBP/AUD initially gained on Tuesday on UK jobs data but gave up ground as investors avoided making bets ahead of UK CPI data due Wednesday.
• Pay excluding bonuses rose by an annual 6.4% in the September-to-November period, the biggest increase since records began in 2001.
•GBP/AUD recovers above 1.7650 level, lift stops after finding resistance at 1.7665 (50% fib).
•GBP/AUD remains vulnerable, only a break and daily close above 1.7665 (50% fib) will shift bias to the upside.
• Immediate resistance is located at 1.7581(9DMA), any close above will push the pair towards 1.7665 (50% fib).
• Strong support is seen at 1.7484(38.2%fib) and break below could take the pair towards 1.7396 (Lower BB ).
Recommendation: Good to sell around 1.7560 with stop loss of 1.7650 and target price of 1.7470
