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FxWirePro:GBP/AUD bears need a close under key level to tighten grip

• GBP/AUD initially dipped but recovered ground on Wednesday after U.S. Federal Reserve left interest rate unchanged .

• GBP/AUD remains below key resistance in the 1.8809  zone ahead of Fed risk event.  

• Technical are bearish, daily RSI is negative at 44, daily momentum studies  9 and 10 DMAs are trending down. 

• Immediate resistance is located at 1.8680 (9DMA ), any close above will push the pair towards 1.8809 (38.2%fib).

• Strong support is seen at 1.8529 (50%fib ), and break below could take the pair towards 1.8479 (Lower BB).

Recommendation: Good to sell on  around 1.8740, with stop loss of 1.8850 and target price of 1.8630


 

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