• GBP/AUD strengthened on Thursday as mixed Australian employment data weighed on the Australian dollar.
• Market focus shifted to Donald Trump’s presidential inauguration and possible inflationary impact of his policies.
• Donald Trump returns to the White House next week, and analysts expect some of his policies to boost growth as well as increase price pressure.
• Immediate resistance is located at 1.9716(38.2%fib ), any close above will push the pair towards 1.9823 (23.6%fib).
• Strong support is seen at 1.9623(50%fib ), and break below could take the pair towards 1.9525(61.8%fib).
Recommendation: Good to buy around 1.9650 with stop loss of 1.9550 and target price of 1.9750
