• GBP/ AUD initially gained but gave up some ground on Wednesday as investors awaited key US data.
• US July CPI due Thursday & July US PPI due on Friday, may impact overall trend.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 62,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.9506(23.6%fib), any close above will push the pair towards at 1.9570( Higher BB).
• Immediate support is seen at 1.9438( 5DMA) and break below could take the pair towards 1.9366(38.2%fib).
Recommendation: Good to buy around 1.9460, with stop loss of 1.9340 and target price of 1.9520
