• GBP/AUD dipped on Monday as Australian Dollar gained ahead of Tuesday's RBA meeting.
• The Reserve Bank of Australia (RBA) will announce its latest policy decision on Tuesday, with markets expecting a 25-basis-point hike to 4.10%..
• If delivered, the move would mark a second successive increase and underscore the Board’s focus on entrenched inflation, given that trimmed mean inflation is still running above target..
• Attention will also turn to Thursday’s employment figures, where consensus expects 20.3K new jobs and a modest uptick in the jobless rate to 4.2%.
• Immediate resistance is located at 1.8974 (SMA 20), any close above will push the pair towards 1.9056(38.2%fib)
• Support is seen at 1.8714(23.6%fib) and break below could take the pair towards 1.8656(Lower BB).
Recommendation: Good to sell around 1.8850 with stop loss of 1.8890 and target price of 1.8700
