• GBP/AUD eased on Monday as market attention remained on this week’s UK’s CPI release and Fed Chair Jerome Powell’s speech at Jackson Hole on Friday.
• Britain’s July consumer inflation data is due Wednesday, with analysts expecting domestic economic conditions to remain a major source of volatility for the pound against Australian dollar.
• Another major focus this week is the Federal Reserve’s Jackson Hole symposium from August 21–23, where Chair Jerome Powell is set to discuss the economic outlook and the central bank’s policy framework.
• Technical are bullish , daily RSI is bullish at 61, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 2.0870 (50% fib), any close above will push the pair towards 2.1000(Psychological level).
• Strong support is seen at 2.0691 (Aug 14th low) and break below could take the pair towards 2.0609(SMA 20).
Recommendation: Good to buy on around 2.0770, with stop loss of 2.0700 and target price of 2.0900
