FxWirePro: GBP/AUD range to extend until there is game changing news

• GBP/ AUD strengthened on Wednesday as investors assessed slew of US indicators and fallout of U.S. President-elect Donald Trump's tariff threats.

• The Commerce Department's personal consumption expenditures price index climbed 0.2% in October, matching September's unrevised gain.While the economy retained much of its solid growth momentum early in the fourth quarter.

•Trump's vows on Monday of big tariffs on Canada, Mexico and China, the United States' three largest trading partners, knocked their currencies lower and have left investors jittery.

• The pair currently is approaching resistance at 23.6%fib. A break above would unmask 1.9650 level in the short term.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 51,while moving averages and MACD are trending higher.

• Immediate resistance is located at 1.9584(23.6%fib), any close above will push the pair towards 1.9642(Nov 15th high).

• Immediate support is seen at 1.9496 (38.2%fib) and break below could take the pair towards 1.9423 (50%fib).

Recommendation: Good to buy around 1.9500, with stop loss of 1.7380 and target price of 1.9650