• GBP/AUD initially dipped but recovered ground as investors digested UK inflation data.
• British inflation came at 1.7% year-on-year in September from 2.2% in August, the lowest reading since April 2021.
• Headline CPI was flat month-on-month, and closely-watched services inflation slowed to 4.9% year-on-year.
• In an up-and-down session, the pair hit low at 1.9414 in early trading then gained towards 1.9501.
• Immediate resistance is located at 1.9549 (38.2%fib), any close above will push the pair towards 1.9586 (Daily high).
• Immediate support is seen at 1.9483 (50%fib), break below could take the pair towards 1.9427 (Lower BB)
Recommendation: Good to sell around 1.9500 with stop loss of 1.9600 and target price of 1.9430
