• GBP/ AUD traded in tight range on Tuesday as investors turned cautious ahead of the Bank of England's policy announcement on Thursday.
• Despite UK inflation climbing to 4% and core inflation jumping to 5.1%, there is growing anticipation that previous BoE hawks would flip their votes to hold, signifying a less hawkish tilt.
• GBP/ AUD traded in the very tight 1.9183-1.9252 and was last trading at up 0.12 percent at 1.9238 in US session.
• Immediate resistance is located at 1.9292(38.2%fib), any close above will push the pair towards 1.9367 (61.8%fib).
• Strong support is seen at 1.9209(38.2%fib) and break below could take the pair towards 1.9119 ( 23.6%fib)
Recommendation: Good to sell around 1.9240 with stop loss of 1.9380 and target price of 1.9170
