GBP_AUD (250 Pips)

The GBP/AUD pair has recently hit a high of 1.99742 and is retreating from resistance for the third time in 12 months. Here's a detailed analysis for the coming 3 days:

Fundamental Analysis
The GBP/AUD pair is influenced by several factors:

1. Economic Data: Upcoming US jobs data and Federal Reserve rate signals will likely impact both currencies.

2. Central Bank Policies: The Bank of England and Reserve Bank of Australia's monetary policies will play a crucial role in determining the pair's direction.

3. Global Risk Sentiment: As the AUD is considered a risk-sensitive currency, global economic conditions and risk appetite will affect its performance against the GBP.

Technical Analysis
The GBP/AUD pair is showing signs of potential bullish momentum, but faces significant resistance:

1. Resistance Levels: The pair is encountering strong resistance around the 2.00 level, having failed to break through this level for the third time in 12 months.

2. Support Levels: Key support levels to watch are 1.97580 (yesterday's low) and 1.96300.

3. Moving Averages: The pair is trading above its 200-day moving average, indicating a long-term bullish trend.

4. Momentum Indicators: The Relative Strength Index (RSI) and MACD are showing upward momentum, but may be approaching overbought territory.

Short-term Outlook (Next 3 Days)
1. Bearish Scenario: Failure to break the 2.00 level could lead to a pullback towards 1.97500 and possibly 1.96300.

2. Range-bound Trading: Given the recent rejection at resistance, the pair may consolidate between 1.97500 and 2.00000 in the short term.

Key Factors to Watch
1. US Non-Farm Payrolls: This data release could cause significant volatility in both GBP and AUD against the USD, indirectly affecting GBP/AUD.

2. Australian Economic Data: Any surprises in Australian economic indicators could impact the AUD's strength.

3. UK Political and Economic Developments: News related to UK economic performance or policy changes could influence GBP strength.

Traders should remain cautious and use appropriate risk management strategies, especially given the pair's recent approach to a significant resistance level. The outcome of the US jobs report and central bank communications in the coming days could provide clearer direction for this currency pair.