FxWirePro:GBP/AUD bulls rebuffed, hold above 50% fibonacci

• GBP/ AUD declined on Thursday   as sterling attracted sellers ahead of UK GDP data.

• UK gross domestic product is due at 0700 GMT.UK gross domestic product data for December might temporarily affect the cross pair if it is much better or worse than expected.

•An unexpectedly negative quarterly GDP number might spur fresh downside. 

• At GMT 20:25, the pair was trading 0.54% lower at 1.7814.  

• Immediate resistance is located at 1.8958 ( 5DMA), any close above will push the pair towards 1.9137 (9 DMA).

• Strong support is seen at 1.7777 (50%fib) and break below could take the pair towards 1.7625 (61.8%fib).

Recommendation: Be on side-lines