• GBP/ AUD steadied on Friday as investors looked ahead to next week's UK inflation data and central bank meeting.
• The next crucial factor for the BoE will be UK inflation data to be released on Wednesday, just before its policy announcement.
• Economists surveyed this week forecast that the Bank of England will keep interest rates at 5% on September 19, but will lower them to 4.75% following its meeting on November 7.
• Technical signals show the pair could gain more ground in the short-term as RSI is bullish at 55,while moving averages are trending higher.
• Immediate resistance is located at 1.9600(Sep 4th high), any close above will push the pair towards 1.9635 (38.2%fib).
• Immediate support is seen at 1.9501(50%fib) and break below could take the pair towards 1.9375(61.8%fib).
Recommendation: Good to buy around 1.9560, with stop loss of 1.9450 and target price of 1.9640
