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FxWirePro:GBP/AUD steadies above 1.7900 after early weakness, good to buy on dips


• GBP/ AUD steadied on Wednesday as optimish that new British Prime Minister Rishi Sunak pledged to lead the country out of an economic crisis  lifted the pair.

• GBP is continuing its rally after Rishi Sunak became Britain's prime minister.

• The pair currently is approaching resistance at 1.8014(23.6%fib). A break above   will unmask 1.8100 level in the short term.

•  Immediate resistance is located at 1.8014(23.6%fib), any close above will push the pair towards 1.8189 (Higher BB).

• Support is seen at 1.7838(14DMA) and break below could take the pair towards 1.7630 (38.2%fib).

 Recommendation: Good to buy around 1. 7900, with stop loss of 1. 7750 and target price of 1. 8000

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