FxWirePro:GBP/AUD holds narrow range, focus on near-term support

• 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