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FxWirePro:GBP/AUD consolidating around 1.9260, room for further gains

• GBP/AUD edged higher on Monday but gains were limited    as investors awaited a slew of economic data this week that will further guide the Bank of England's interest rate path.

• Investors will keenly watch the September data on UK's unemployment rate on Tuesday, followed by key inflation numbers on Wednesday.

• The pair is holding near today's high, break above 38.2%fib resistance will accelerate gains  towards 1.9400 level.

• Technical signals are bearish as RSI is at 53, daily momentum studies  5, 9 and 10 DMAs are trending south. 

• Immediate resistance is located at 1.9321 (38.2%fib), any close above will push the pair towards 1.9479 (23.6%fib)

• Strong support is seen at 1.9191 (50%fib) and break below could take the pair towards 1.9132(14DMA).

Recommendation: Good to buy  around 1.9250 , with stop loss of 1.9180  and target price of 1.9310
 

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