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• GBP/ AUD recovered some ground but gains were limited as investors awaited economic data on both sides of the Atlantic.
• Markets are gearing up for U.S. inflation data on Wednesday and British gross domestic product (GDP) figures due on Thursday, which could affect expectations for the BoE's rate path .
• GBP/ AUD traded in range 1.9645-1.9795, the pair was last trading down 0.02 percent at 1.9765.
• Technical signals show the pair could lose more ground in the short-term as RSI has turned lower.
• Immediate resistance is located at 1.9800(50%fib), any close above will push the pair towards 1.9844(5SMA).
• Immediate support is seen at 1.9624(50%fib) and break below could take the pair towards 1.9520(Dec4th low).
Recommendation: Good to sell around 1.9800, with stop loss of 1.9870 and target price of 1.9720
