• GBP/AUD gained above 1.9200 on Wednesday as traders digested Fed rate decision and Chairman Kevin Warsh's remarks.
• The Federal Reserve kept interest rates unchanged, leaving investors focused on how Fed Chair Kevin Warsh will achieve the central bank's 2% inflation target amid still-elevated inflation..
• Fed Chair Kevin Warsh said the U.S. central bank has no higher "soft target" for inflation and remains firmly committed to bringing inflation back to its longstanding 2% goal, despite leaving interest rates unchanged amid elevated inflation.
• Investors now await the release of the June U.S. Personal Consumption Expenditures (PCE) price index on Thursday for fresh clues on the Federal Reserve's monetary policy outlook.
• Immediate resistance is located at 1.9231(38.2%fib), any close above will push the pair towards 1.9397(23.6%fib).
• Immediate support is seen at 1.9103 (50%fib) and break below could take the pair towards 1.9036(29th July low).
Recommendation: Good to buy around 1.9180, with stop loss of 1.9120 and target price of 1.9240
