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• GBP /AUD eased on Thursday after data showed UK wage growth slowed in May.
• Britain's statistics office said earnings excluding bonuses grew by an annual 5.7% in the three months to May, down from 6.0% in the three months to April and represented the slowest growth in core pay since the summer of 2022.
• GBP /AUD bulls are reluctant to probe for new highs as the data added no new hawkish BoE rate expectations.
• The pair hit daily high at 1.9359 and was last trading at 1.9286 in afternoon US session.
• Immediate resistance is located at 1.9353(23.6% fib), any close above will push the pair towards 1.9423 (April 17th high).
• Immediate support is seen at 1.9263 (38.2% fib) and break below could take the pair towards 1.9191 (50% fib).
Recommendation: Good to sell around 1.9300, with stop loss of 1.9400 and target price of 1.9220.
