• GBP/ AUD strengthened on Thursday after the Bank of England (BoE) indicated that interest rates would remain high for an extended period.
•The Monetary Policy Committee voted 6-3 to keep rates at a 15-year high of 5.25%, in line with economists' expectations in a poll last week.
• A rally towards 1.9200 is possible if GBP/ AUD bulls overcome resistance at 50%fib.
• Technical signals show the pair could gain more ground in the short-term as RSI is rising,while moving averages 5and 9DMA’s trending up.
• Immediate resistance is located at 1.9072 ( 38.2%fib), any close above will push the pair towards 1.9091 (14DMA).
• Immediate support is seen at 1.8973 (38.2%fib ) and break below could take the pair towards 1.8807(38.2%fib).
Recommendation: Good to buy around 1.9080, with stop loss of 1.8900 and target price of 1.9180
