• GBP/ AUD steadied on Monday as investors awaited Bank of England rate decision later in the week .
• Investors and economists expecting Bank of England officials to hike by 25 basis points to 4.75%.
•. Technical signals show the pair could gain more ground in the short-term as RSI is rising ,while moving averages 5 and 9DMS’s are trending higher.
• Immediate resistance is located at 1.8733 (23.6%fib ), any close above will push the pair towards 1.8808 (June 6th high).
•Immediate support is seen at 1.8630 (5DMA ) and break below could take the pair towards 1.8570 (38.2%fib).
Recommendation: Good to buy around 1.8630, with stop loss of 1.8500 and target price of 1.8700.
