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FxWirePro: GBP/AUD set for bigger drop, but close below key fibo needed

• GBP/AUD edged higher on Friday but gains were limited as traders squared positions ahead of the weekend.

• Trading volumes stay subdued during  holiday-shortened week, with extended New Year celebrations keeping activity low.

• GBP/AUD remains vulnerable, a daily  break and close below 50%fib  support will shift bias towards 1.9400.

• Immediate resistance is located at 2.0073 (38.2%fib ), any close above will push the pair towards 2.0240(23.6%fib).

•  Strong support is seen at 1.9928 (50%fib) and break below could take the pair towards 1.9793 (61.8%fib).

Recommendation: Good to sell around 2.0050 with stop loss of 2.0150 and target price of 1.9950
 

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