FxWirePro:GBP/AUD uptrend grinds higher after soft Australian jobs data and BoE rate decision

• GBP/ AUD strengthened on Thursday as soft Australian jobs data and Bank of England rate decision.

•   Australian employment unexpectedly declined in February, ending a streak of strong gains and suggesting the labor market may be starting to cool, though the jobless rate remained low.

• Data from the Australian Bureau of Statistics on Thursday showed net employment dropped by 52,800 in February, following a downwardly revised gain of 30,500 in January..

• The Bank of England kept interest rates at 4.5% and cautioned against expecting imminent cuts, citing deep uncertainty in the UK and global economies.

• Immediate resistance is located at 2.0606(23.6%fib), any close above will push the pair towards 2.0782(Higher BB ).

• Immediate support is seen at 2.0409( 50%fib) and break below could take the pair towards 2.0338(10th March  low).

Recommendation: Good to buy around 2.0550, with stop loss of 2.0430 and target price of 2.0750