• GBP/AUD steadied on Wednesday as investors debated Britain's highest ever monthly budget surplus in January could mean for the Bank of England (BoE) monetary outlook.
• Britain ran a budget surplus of 16.7 billion pounds ($21.1 billion) in January, due to record seasonal tax inflows.
• At GMT 18:16, the pair was trading up 0.11 percent at 1.9287 recovering from daily low at1.9210 .
• Technical are bullish, daily RSI has turned higher at 51, daily momentum studies 5 and 9 DMAs are trending up.
• Immediate resistance is located at 1.9348(23.6% fib), any close above will push the pair towards 1.9394(Feb 15th high).
• Strong support is seen at 1.9199 (38.2% fib) and break below could take the pair towards 1.9160(Lower BB).
Recommendation: Good to buy around 1.9280, with stop loss of 1.9200 and target price of 1.9360
