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FxWirePro: GBP/AUD consolidating around 1.7933,bias is bullish

• GBP /AUD steadied on Thursday as sterling was supported on expectation Bank of England raise rates next week.

• The BoE meets next week with a 75bp hike mostly favored versus the more than 100bp increase seen amid the recent mini-budget ructions.

• From a technical viewpoint, RSI  is bullish at 62daily momentum studies, 5, 10 and 11 are trending up.

• Immediate resistance is located at 1.8010 (23.6% fib), any close above will push the pair towards 1.8210 (Higher BB).

• Immediate support is seen at 1.7886(9DMA) and break below could take the pair towards 1.7600 (38.2%fib).

Recommendation: Good to buy on dips around 1.7920 , with stop loss of 1.7750 and target price of 1.8020
 

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