• GBP/AUD strengthened on Monday but gains were limited ahead Mansion House .
• Markets will interpret Bailey and Grant through the prism of persistent UK inflation, which
• At GMT 16:48, the pair was trading 0.44% higher at 1.9260, after hitting session high at 1.9292
• Technical signals are bullish as RSI is at 67, daily momentum studies 5,9,21 DMA are trending north.
• Immediate resistance is located at 1.9296 (23.6%fib ), any close above will push the pair towards 1.9345 (Higher BB).
• Strong support is seen at 1.9151 (38.2%fib) and break below could take the pair towards 1.9110 (38.2%fib).
Recommendation: Good to buy on dips around 1.9250 with stop loss of 1.9150 and target price of 1.9320
