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• GBP /AUD initially gained but gave up ground on Tuesday as investors adjusted their positions ahead of the holiday season.
• On Tuesday, the GBP /AUD session range moved between 2.0163 and 2.0049.
•With limited UK economic data scheduled for release and few Bank of England (BOE) speakers next week, year-end flows are expected to dominate market movements..
• Immediate resistance is located at 2.0189 (23.6%fib), any close above will push the pair towards 2.0308(Higher BB).
• Immediate support is seen at 2.0012 (38.2%fib) and break below could take the pair towards 1.9861(50%fib).
Recommendation: Good to buy around 2.0050, with stop loss of 1.9950 and target price of 2.0120
