FxWirePro: GBP/AUD drifts lower after BOE rate decision

• GBP/AUD drifted lower on Thursday  after  Bank of England kept interest rates on hold as expected  .

• As widely anticipated, the Bank of England kept interest rates on hold, but the policy vote turned more hawkish as a third official backed a rate hike following renewed Middle East conflict.

• The Monetary Policy Committee voted 6-3 to leave interest rates unchanged at 3.75%, compared with expectations for a 7-2 vote in favor of holding rates.

• Having signaled concerns over the current monetary policy stance earlier this month, Catherine Mann joined Megan Greene and Chief Economist Huw Pill in voting to lift interest rates to 4%.

• Most MPC members opted to maintain Governor Andrew Bailey's cautious, wait-and-see stance, signaling no immediate need for further interest rate hikes as they monitor inflation.

• Immediate resistance is located at 1.9208(SMA 20), any close above will push the pair towards 1.9236(38.2%fib).

• Immediate support is seen at 1.9088 (50%fib) and break below could take the pair towards 1.9000(Psychological level).

Recommendation: Good to sell around 1.9160, with stop loss of 1.9230 and target price of 1.9060