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FxWirePro: GBP /AUD stuck in range but maintains bearish bias

• GBP/AUD dipped on Wednesday as   uncertainty around the Trump administration's tariff policies and a more dovish BoE.rate outlook weighed on sterling

• The Bank of England has cut rates by 25bp quarterly since August 2024, with markets forecasting a 68% chance of another cut in February.

• A Markets are pricing in roughly 65 basis points of rate cuts from the BoE this year.

• Immediate resistance is located at 1.9742(38.2%fib), any close above will push the pair towards 1.947(lower BB).

• Immediate support is seen at 1.9611(38.2%fib) and break below could take the pair towards 1.9505 (lower BB).

Recommendation: Good to buy round 1.9650, with stop loss of 1.9750  and target price of 1.9500

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