• GBP/AUD dipped on Monday as investors braced for a data-heavy week and policymakers remarks for cues on the path of interest rates.
•Market watchers await Bank of England Governor Andrew Bailey's remarks today, along with upcoming domestic and U.S. inflation data this week, for hints about potential interest rate clues.
At GMT 16:13, the pair was trading down 0.11 percent at 1.9322 after reaching daily high at 1.9382
• A daily close below 50% fib will further improve downside bias, and open the possibility of a drop towards 1.9250 level.
• Immediate resistance is located at 1.9382(Daily high),any close above will push the pair towards 1.9434 (38.2% fib).
• Immediate support is seen at 1.9286(50% fib) and break below could take the pair towards 1.9208 (Lower BB )
Recommendation: Good to sell below 1.9330, with stop loss of 1.9500 and target price of 1.9250
