FxWirePro: GBP/AUD steadies around 1.9060, retains bid tone

• GBP/ AUD steadied on  Tuesday as   investors awaited  closely-watched consumer price inflation data is due on Wednesday.

• Economists polled  predict data will probably show UK headline inflation slowed sharply to 2.1% in April.

• At GMT 15:29, the pair was trading up 0.21 percent  at 1.9063 after hitting   1.9104(Daily high).

• Technical signals show the pair could gain more ground in the short-term as RSI is rising from below,while moving averages are trending higher. 

• Immediate resistance is located at 1.9131(23.6%fib), any close above will push the pair towards 1.9234 (Higher BB).

• Immediate support is seen at 1.9027 (38.2%fib) and break below could take the pair towards 1.8947 (50%fib).

Recommendation: Good to buy around 1.9050, with stop loss of 1.8900 and target price of 1.9130