FxWirePro: GBP/AUD gaining momentum for a move towards 2.1765 level

• GBP/ AUD steadied on Monday as  sterling attracted bids as investors geared up for a busy week including economic data, monetary policy decisions by central banks .

• The BoE's rate-setting meeting on Thursday will also garner attention, as the central bank is widely expected to cut rates by 25 basis points.

 • Investors will pay particular attention to comments from BoE Governor Andrew Bailey to see if he offers any view on the government's spending pla.

• Technical signals show the pair could gain more ground in the short-term as RSI is rising from below,while moving averages are trending higher.

• Immediate resistance is located at 2.1690 (23.6%fib), any close above will push the pair towards 2.1783(Oct 31st high).

• Immediate support is seen at 2.1690 (38.2%fib) and break below could take the pair towards 1.9382 (50%fib).

Recommendation: Good to buy around 2.1670, with stop loss of 2.1600 and target price of 2.1780