• GBP/ AUD recovered some ground but gains were limited as investors awaited remarks from a range of Bank of England speakers this week.
• The UK’s Monetary Policy Report Hearings on Tuesday will indeed be a key event for market watchers.
• GBP/ AUD traded in range 1.9920-1.9830, the pair was last trading down 0.02 percent at 1.9866.
• Technical signals show the pair could lose more ground in the short-term as RSI has turned lower.
• Immediate resistance is located at 1.9911 (38.2%fib), any close above will push the pair towards 2.0063(23.6%fib ).
• Immediate support is seen at 1.9779(50%fib) and break below could take the pair towards 1.9656 (61.8%fib).
Recommendation: Good to sell around 1.9880, with stop loss of 1.9960 and target price of 1.9800
