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

• GBP/AUD initially gained but gave upground investors navigated the uncertainties stemming from the U.S. government shutdown.

• The U.S. government has partially shut down, threatening thousands of federal jobs, as partisan deadlock blocked a funding agreement between Congress and the White House.

• British factory activity fell at the fastest pace in five months in September, weighed down by weak domestic demand and fewer export orders, a survey showed.

•Separate data showed, house prices rose slightly faster than expected in September with a 0.5% increase, mortgage lender Nationwide Building Society said..

• Immediate resistance is located at 2.0448(SMA20), any close above will push the pair towards 2.0563(38.2%fib).

• Immediate support is seen at 2.0295 (23.6%fib) and break below could take the pair towards 2.0274 (Lower BB).

Recommendation: Good to sell around 2.0340 with stop loss of 2.0400 and target price of 2.0250