• GBP/ AUD strengthened on Tuesday as Aussie dollar slumped after the Reserve Bank of Australia kept rates steady.
• Wrapping up its September policy meeting, the Reserve Bank of Australia (RBA) held rates at 4.10% and reiterated that further tightening may still be required to bring inflation to heel .
• GBP/ AUD traded in range 1.9516-1.9742, the pair was last trading up 0.82 percent at 1.9700.
• From a technical viewpoint, RSI is strongly bullish at 57, daily momentum studies, 5, 10 and 21 daily MAs all climb.
• Immediate resistance is located at 1.9750(Daily high), any close above will push the pair towards 1.9911(23.6%fib).
• Immediate support is seen at 1.9645 (38.2%fib) and break below could take the pair towards 1.9585 (5DMA).
Recommendation: Good to buy around 1.9680, with stop loss of 1.9500 and target price of 1.9780
