FxWirePro: GBP/AUD slips as RBA surprise boosts Aussie dollar

• GBP/AUD dipped on Tuesday as the Australian dollar strengthened following the RBA's surprise decision to hold interest rates steady.

• Australia’s central bank held its cash rate at 3.85% on Tuesday, surprising markets that had widely expected a cut, as most board members opted to wait for further confirmation that inflation is easing.

• Concluding its two-day policy meeting, the Reserve Bank of Australia expressed caution over the inflation outlook, revealing a rare split vote six members favored holding rates steady, while three opposed the decision.

• Markets had nearly fully priced in a rate cut to 3.60% this week, as core inflation eased to the midpoint of the RBA’s 2–3% target and consumer spending remained softer than anticipated.

•  Immediate resistance is located at 2.0970(Daily high), any close above will push the pair towards 2.1087(38.2% fib).

• Strong support is seen at 2.0728(50% fib) and break below could take the pair towards 2.0647(Lower BB).

Recommendation: Good to buy   around 2.0770, with stop loss of 2.0700 and target price of 2.0900