• GBP /AUD strengthened on Tuesday as better-than-forecast wage growth data supported sterling.
• Wages excluding bonuses grew by 6.2% in October-November compared with the same period a year earlier. T
• UK CPI data on Wednesday, GDP on Thursday and retail sales on Friday will be key for BoE pricing.
• The pairs rise above the 38.2%fib has reinforced the growing bullish strength, putting focus on resistance at 1.9600 level
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• Immediate resistance is located at 1.9524 (Daily high), any close above will push the pair towards 1.9000 (23.6%a5fib).
• Immediate support is seen at 1.9446(38.2%fib) and break below could take the pair towards 1.8316 (50%fib).
Recommendation: Good to buy on dips around 1.9480, with stop loss of 1.9400 and target price of 1.9590
