FxWirePro: GBP/AUD under pressure , knocking on door of key support

• GBP/AUD fell on Wednesday as the Australian dollar strengthened amid growing speculation that the  RBA) may raise interest rates at its policy meeting next week..

• RBA Deputy Governor Andrew Hauser stated on Tuesday that there will be a serious discussion about whether or not to hike interest rates when the central bank meets next week.

• The Reserve Bank of Australia raised interest rates by 25 basis points to 3.85% last month after inflation began accelerating again, following three rate cuts implemented last year.

• Markets are pricing in about a 50% probability that the RBA will deliver another rate hike on March 17, while a move in May is already fully priced in. Overall, traders expect roughly 60 basis points of additional tightening through 2026.

• Immediate resistance is located at 1.8856(Daily high), any close above will push the pair towards 1.9038(38.2%fib).

• Strong support is seen at 1.8693 (23.6%fib ), and break below could take the pair towards 1.8602 (Lower BB).

Recommendation: Good to sell on  around 1.8800 with stop loss of 1.8880 and target price of 1.8730