FxWirePro: GBP/AUD consolidating around 1.9000 , room for further gains

• GBP/AUD consolidated  1.9000    as a retreat in bond yields and softer oil prices calmed investors following last week's ​bond-market volatility

• Gilt yields fell after reaching multi-decade highs last week as investors weighed persistent inflation and debt risks.

• Meanwhile, BoE policymaker Catherine Mann warned that UK inflation has become entrenched and could worsen as wage talks begin early next year.

•Markets see about a 90% probability of a 25-basis-point or larger BoE rate hike in November.

• Immediate resistance is located at 1.9071 (50%fib), any close above will push the pair towards 1.9129(Higher BB).

• Immediate support is seen at 1.8939 (38.2%fib) and break below could take the pair towards 1.8890(SMA 20).

Recommendation: Good to buy around 1.8880 with stop loss of 1.8800 and target price of 1.9070