• GBP/AUD is trading narrow range as fading risk appetite and cautious market sentiment kept investors cautious.
• Near-term moves in GBP/AUD are likely to be data-driven, with clearer signals on the UK economy expected from GDP data due next week and jobs figures the week after..
• Meanwhile, data on Thursday showed British house prices rose by a slower-than-expected 0.3% in the year to December.
• Attention now turns to Friday’s U.S. December jobs report, which could provide further clues on the Federal Reserve’s interest rate path.
• Immediate resistance is located at 2.0152 (SMA 20), any close above will push the pair towards 2.0203(38.2%fib).
• Immediate support is seen at 1.9980(23.6%fib) and break below could take the pair towards 1.9940(Lower BB)
Recommendation: Good to sell around 2.0050 with stop loss of 2.0120 and target price of 1.9920
