• GBP/AUD pulled back in US session on Wednesday, surrendering some of its earlier gains as investors digested US CPI data.
• Labor Department report showed the CPI rose 0.3% in November, matching estimates, with an annual increase of 2.7%, in line with projections.
• From a technical viewpoint, the moving averages are pointing upwards, while the RSI is bullish at 67.
• Immediate resistance is located at 2.100 ( 23.6%fib), any close above will push the pair towards 2.138 ( 14DMA).
• Strong support is seen at 1.9919 (38.2% fib ) and break below could take the pair towards 1.9776(38.2% fib).
Recommendation: Good to buy around 2.000, with stop loss of 1.9900 and target price of 2.100.
