• GBP/AUD rose higher on Thursday as comments from BoE policymaker Catherine Mann supported the pair.
• Bank of England rate-setter Mann said on Thursday that supply chain disruption from hostilities in the Red Sea could quickly feed into companies' pricing decisions, exacerbating Britain's inflation problem.
• Mann said her decision last week to vote to raise interest rates to 5.5% from 5.25% was not easy . Most Monetary Policy Committee members voted to leave rates on hold, and one voted for a cut.
• A rally towards is 1.9550 level is possible if GBP/AUD bulls overcome resistance at 1.9456(23.6%fib ).
• Technical signals are bullish as RSI is at 64, daily momentum studies 5 ,9 and 11 DMA's, are trending up.
• Immediate resistance is located at 1.9456(23.6%fib ), any close above will push the pair towards 1.9513(Higher BB).
• Strong support is seen at 1.9343(Daily low) and break below could take the pair towards 1.9293 (38.2%fib).
Recommendation: Good to buy on dips around 1.9440 with stop loss of 1.9300 and target price of 1.9520
