• GBP/AUD extended its yesterday’s bounce as investors looked ahead to BOE's next move on interest rate.
• GBP/AUD remains well above its 14-DMA and is likely to move higher amid expectations the BoE will raise rates 50bps on Thursday, up 25bps from its recent 25bp/meeting pace.
• Upside targets include 1.7700 and the daily cloud top at 1.7735 (HigheBB).
• Immediate resistance is located at 1.7643 ( 38.2%fib), any close above will push the pair towards 1.7732 ( Higher BB).
• On the downside, strong support is seen at 1.7551 (50%fib) and break below could take the pair towards 1.7530 (30DMA).
Recommendation: Good to buy around 1.7600, with stop loss of 1.7515 and target price of 1.7700
