• GBP /AUD firmed on Thursday after US inflation data hinted at less-hawkish Fed path.
• Steadied around 1.9457 as traders await more data, focus shifted to UK inflation data on August 16, for hints at Bank Of England policy path.
• The pair hit daily high at 1.9490 and was last trading at 1.9455 level.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 60 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.9532 (23.6% fib), any close above will push the pair towards 1.9574(Higher BB).
• Immediate support is seen at 1.9424 (5DMA) and break below could take the pair towards 1.9302 (38.2%fib).
Recommendation: Good to buy on dips around 1.9430, with stop loss of 1.9300 and target price of 1.9500
