• GBP/ AUD rebounded from two-month low on Tuesday as Australian dollar came under pressure after the country's central bank left interest rates unchanged.
• The Reserve Bank of Australia (RBA) kept rates at 4.1% after its monthly policy meeting, saying recent economic data were consistent with inflation slowing as desired.
• The pair currently is approaching resistance at 38.2%fib. A break above would unmask 1.9300 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI has tuned bullush,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.9177(38.2%fib), any close above will push the pair towards 1.9245 (Sep 21st high).
• Immediate support is seen at 1.9099(14DMA) and break below could take the pair towards 1.9041 (50%fib).
Recommendation: Good to buy around 1.9160, with stop loss of 1.9080 and target price of 1.9240
