• GBP/ AUD steadied above 1.9000 on Wednesday as positive market sentiment before the US inflation data bolstered the strength of the pound..
• Bank of England Governor Andrew Bailey said on Wednesday he hoped that the recent fall in the cost of mortgages would continue. BoE Governor Bailey chose not to comment on the policy outlook.
• At GMT 17:00, the pair was trading up 0.21 percent at 1.9022 after hitting 1.8949(Daily low).
• Technical signals show the pair could gain more ground in the short-term as RSI is rising from below,while moving averages are trending higher.
• Immediate resistance is located at 1.9059(23.6%fib), any close above will push the pair towards 1.9156 (Higher BB).
• Immediate support is seen at 1.8962 (50%fib) and break below could take the pair towards 1.8905 (Jan 8th low).
Recommendation: Good to buy around 1.9000, with stop loss of 1.8900 and target price of 1.9100
