• GBP/ AUD eased on Wednesday after data showed British core inflation stayed strong in July.
• British core inflation stayed strong in July,core inflation in Britain, which strips out volatile energy and food prices, remained at 6.9% in July, flat versus the June reading.
• At GMT 17:12, the pair was trading up 0.13 percent at 1.9876 ,after hitting daily high at 1.9922
• Technical signals show the pair could gain more ground in the short-term as RSI is at 70,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.9917(23.6%fib), any close above will push the pair towards 1.9972(Aug 17th high).
• Immediate support is seen at 1.9779( 5DMA) and break below could take the pair towards 1.9650(38.2%fib).
Recommendation: Good to buy around 1.9860, with stop loss of 1.9740 and target price of 2.0000
