FxWirePro:GBP/AUD recovers slightly from early decline but bears are not done yet

• GBP/AUD initially dipped on Thursday but recovered some ground as  investors digested  Bank of England policymaker Catherine Mann comments

•Catherine Mann suggested rates could stay higher for longer, though the pound remained largely at the mercy of dollar crosses.

• Last month, Mann joined the majority of the Monetary Policy Committee in keeping the BoE’s benchmark Bank Rate unchanged. In August, however, she was in the minority opposing a cut to 4%

•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.

•Britain’s housing market slowed for a third consecutive month, while business confidence dropped sharply, according to two surveys released Thursday, reflecting concerns over Finance Minister Rachel Reeves’ upcoming November budget.

• Immediate resistance is located at 2.0403(38.2%fib), any close above will push the pair towards 2.0541(50%fib).

• Immediate support is seen at 2.0259 (Lower BB) and break below could take the pair towards 2.0148(23.6%fib).

Recommendation: Good to sell around 2.0300 with stop loss of 2.0400 and target price of 2.0220