• GBP/ AUD steadied on Tuesday as Australian dollar dipped ahead monthly inflation readings later in the week, which is set to shape RBA’s interest rate outlook.
• Consumer inflation is expected to decelerate to an annual rate of 4.4% in November, down from October's 4.9%.
• At GMT 17:37, the pair was trading up 0.21 percent at 1.9008 after hitting 1.9025(Daily high).
• Technical signals show the pair could gain more ground in the short-term as RSI is rising from below,while moving averages are trending higher.
• Immediate resistance is located at 1.9059(23.6%fib), any close above will push the pair towards 1.9156 (Higher BB).
• Immediate support is seen at 1.8962 (50%fib) and break below could take the pair towards 1.8905 (Jan 8th low).
Recommendation: Good to buy around 1.9000, with stop loss of 1.8900 and target price of 1.9100
