• GBP/AUD strengthened on Tuesday as investors await insights from Bank of England (BoE) officials this week.
• On Tuesday, all eyes will be on speeches by BoE Governor Andrew Bailey, Deputy Governor Sarah Breeden, and Monetary Policy Committee member Megan Greene, as investors seek hints on the trajectory of interest rate cuts.
• Britain's flash PMI figures for October are set to be released on Wednesday, offering further insights into the country's inflation landscape, while UK's consumer confidence data is due on Friday.
• Technical are bullish, daily RSI is up at 54 , daily momentum studies 9 and 10 DMAs are trending north.
• Immediate resistance is located at 1.9528 (38.2%fib ), any close above will push the pair towards 1.9591 (Oct 16th high).
• Strong support is seen at 1.9478(5SMA ), and break below could take the pair towards 1.9453 (50%fib).
Recommendation: Good to buy around 1.9500 with stop loss of 1.9430 and target price of 1.9600
