• GBP/AUD strengthened on Friday as traders digested UK business activity data and remarks from Bank of England governor Andrew Bailey.
• Bank of England Governor Andrew Bailey cautioned on Friday against easing financial regulations as memories of past crises fade, stressing the need for central banks to remain vigilant to emerging risks
•Bailey stated that he did not believe stricter post-2008 banking regulations in Britain were responsible for low investment and sluggish productivity growth in subsequent years..
• British factory activity fell at the fastest pace in five months in September, weighed down by weak domestic demand and fewer export orders, a survey showed.
•Traders are betting on no change to interest rates at the BoE's next meeting on November 6, and on a further two cuts next year.
• Immediate resistance is located at 2.0435(SMA20), any close above will push the pair towards 2.0577(38.2%fib).
• Immediate support is seen at 2.0319 (23.6%fib) and break below could take the pair towards 2.0290(Lower BB).
Recommendation: Good to sell around 2.0440 with stop loss of 2.0500 and target price of 2.0350
