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FxWirePro: GBP/AUD trades in narrow range, good to sell on rallies

GBP/AUD made a low of 2.1240 yesterday and slightly recovered from that level.

  • The pair is trading in narrow range and investor awaits UK inflation report hearings and CPI data for Oct which is to be released tomorrow.
     
  • Technically major resistance is around 2.175 and break above will take the pair till 2.20/2.2220
     
  • On the downside minor support is around 2.120 and break below will take the pair further down till 2.080/2.05.

It is good to sell on rallies around 2.145-50 with SL around 2.175 for the TP of 2.100/2.080

 

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