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FxWirePro:GBP/AUD consolidates around 1.9160 after early fall, maintains bullish bias

• GBP/AUD initially dipped on Wednesday  as   but recovered ground after  hotter-than-expected UK inflation.

• Data showed British annual consumer price inflation held at an 18-month low of 6.7% in September, while the core inflation fell less than expected, raising fears of another BoE rate hike.

• A close above  resistence  at 1.9203 (38.2% fib)will give further momentum to bulls, opening the way for a run towards 1.9300 level. 

• Technical are bullsih daily RSI is turning up, daily momentum studies  5 and 9 DMAs are trending up. 

• Immediate resistance is located at 1.9203 (38.2% fib), any close above will push the pair towards 1.9301 (Higher BB).

• Strong support is seen at 1.9067 (50% fib) and break below could take the pair towards 1.9000 (Psychological level).

Recommendation: Good to but on  around 1.9150, with stop loss of 1.9060 and target price of 1.9220

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