• GBP/ AUD rose on Monday as receding banking sector worries lifted risk mood ahead of Thurday's Bank of England rate decision.
• Money markets are pricing in a 50% chance of no interest rate hike by the BoE on Thursday .
• GBP/ AUD is now on course to register a close above the 1.8310( 23.6%fib), chart points to bigger gains towards 1.8400 level .
• Technical signals show the pair could gain more ground in the short-term as RSI is at 55,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.8310( 23.6%fib), any close above will push the pair towards 1.8396 (Higher BB).
• Immediate support is seen at 1.8205(5DMA) and break below could take the pair towards 1.8144 (38.2%fib).
Recommendation: Good to buy around 1.8270, with stop loss of 1.8200 and target price of 1.8350
