• GBP/ AUD steadied on Tuesday as focus shifted to Bank of England (BoE) meeting this week.
• Upcoming BoE meeting will be scrutinized for hints at how bank-related tightening of financial conditions will play out on inflation and rate policy.
• At GMT 17:25 the pair was trading up 0.33 percent at 1.8311, highest level since November 22nd 2021.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 60,while moving averages are trending higher.
• Immediate resistance is located at 1.8376(23.6%fib), any close above will push the pair towards 1.8462 (Higher BB).
• Immediate support is seen at 1.8117 (Daily low) and break below could take the pair towards 1.8069 (5DMA).
Recommendation: Good to buy around 1.8300, with stop loss of 1.8210 and target price of 1.8380
