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FxWirePro: GBP/AUD retreats amid reduced global inflation data, softer BoE rate view

• GBP/AUD initially gained on Wednesday but gave up most of ground as investors reassess the BoE's degree of hawkishness in light of easing inflation data in Canada and Australia.

• GBP/AUD  slides to 1.9115 from 1.9240 Wed high. The pair has seen a 1.9240 -1.9050 range.

• The pair is now on course to register a   close below the 38.2 %fib suport level, chart points to bigger drop towards  1.9000.  . 

• Immediate resistance is located at 1.9140 ( Higher BB), any close above will push the pair towards 1.9233 (23.6 %fib)

• Strong support is seen at 1.9054(38.2 %fib ) and break below could take the pair towards 1.8954 (June 27th ).

Recommendation: Good to sell on rally around 1.9120, with stop loss of 1.9220 and target price of 1.9050.
 

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