FxWirePro: GBP/AUD advances ahead of UK CPI data

• GBP/AUD advanced level 2.0900 as investors await UK consumer inflation data for policy clues.

• Investors are closely watching upcoming the release of the United Kingdom’s consumer inflation data on Wednesday, as it is expected to provide critical insights into the future path of monetary policy.

• A stronger-than-expected inflation reading could signal persistent price pressures, potentially slowing the pace of any interest rate cuts by the Bank of England, while a softer print might reinforce expectations of policy easing.

• Most economists expect one more quarter-point rate cut this year, while money markets are not fully pricing in another reduction until February, reflecting policymakers' recent cautious stance.

• Technical are bullish, daily RSI is    at 55, daily momentum studies  9 and 10 DMAs are trending up. 

• Immediate resistance is located at 2.0989 (Higher BB), any close above will push the pair towards 2.1132(38.2% fib).

• Strong support is seen at 2.0775 (50% fib) and break below could take the pair towards 2.0639 (SMA 20).

Recommendation: Good to buy  on  around 2.0880, with stop loss of 2.0760  and target price of 2.1000