• GBP/AUD retreated from daily high on Tuesday after cooler-than-expected U.S. inflation data fueled bets the Federal Reserve was done with its interest rate hikes.
• GBP/AUD failed to close above 23.6%fib resistance and dipped towards 1.9212.
• GBP/AUD bullish need break above resistance at 1.9260 will swill shift momentum to bulls.
• Technical signals show the pair could gain more ground in the short-term as RSI is bullisg at 54, daily momentum studies 5 and 9 DMAs are trending up.
• Immediate resistance is located at 1.9260(Nov 13th high), any close above will push the pair towards 1.9332(38.2%fib).
• Strong support is seen 1.9196 (38.2%fib) and break below could take the pair towards 1.9147 (21DMA)
Recommendation: Good to buy around 1.9180, with stop loss of 1.9100 and target price of 1.9270
