• GBP/AUD edged higher but gains were limited as investors awaited Reserve Bank of Australia interest rate decision.
• Markets will closely watch the Reserve Bank of Australia's policy decision on Tuesday for further direction on interest rates, after a surprisingly strong inflation report for September dampened investors' hopes for further easing this year.
• The RBA is expected to stand pat on interest rates on Tuesday, with the next and final rate cut in the cycle expected in 2026, according to a poll of economists.
•On the data front, UK manufacturing activity hit a one-year high in October, The S&P Global Manufacturing PMI rose to 49.7 from 46.2 in September.
• Immediate resistance is located at 2.0269(38.2%fib), any close above will push the pair towards 2.0391(SMA 20).
• Immediate support is seen at 1.9988(23.6%fib) and break below could take the pair towards 1.9948 (Lower BB).
Recommendation: Good to sell around 2.0100 with stop loss of 2.0200 and target price of 2.0000
