• GBP/ AUD steadied on Monday as investors looked ahead to upcoming UK inflation data for more clues on UK interest rate policy.
• Britain's Office for National Statistics releases its consumer price data on Wednesday. Economists polled by Reuters expect headline annual inflation to hold steady at 2%.
• The pair picked up side momentum , a close above will open up 1.9250 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is bullish at 59,while moving averages are trending higher.
• Immediate resistance is located at 1.9212(23.6%fib), any close above will push the pair towards 1.9264 (June 14th high).
• Immediate support is seen at 1.9156(38.2%fib) and break below could take the pair towards 1.9111 (50%fib).
Recommendation: Good to buy around 1.9170, with stop loss of 1.9100 and target price of 1.9250
