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FxWirePro: GBPAUD longs gains traction after mixed US jobs report


• GBP/AUD surged on Friday following the US payrolls data as the market evaluated the potential size of the Fed's rate cut. 

• Next week focus will be  on UK employment, U.S. CPI data and central bank appearances from the Fed and BoE.

• Bulls have tightened their grip on this market,a break and  daily close under   38.2% fib support could deepen bearish outlook further.

• Technicals are bearish as daily RSI is at 63  , daily momentum studies  5, 9 and 10 DMAs are trending up. 

• Immediate resistance is located at 1.9700(Daily high), any close above will push the pair towards 1.9971 (23.6% fib).

• Strong support is seen at 1.9616(38.2% fib) and break below could take the pair towards 1.9480 (50% fib).

Recommendation: Good to buy on  around 1.9650, with stop loss of 1.9550 and target price of 1.9760

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