• GBP/ AUD strengthened on Wednesday as squared positions ahead of Fed rate decision , limiting downside .
• The Fed is likely to deliver a 25-basis point interest rate hike later in the day, though there is less clarity over what the central bank will do at its subsequent meetings.
• The pair currently is approaching resistance at 1.9192 (23.6%fib). A break above would unmask 1.9300 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 55,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.9192(23.6%fib), any close above will push the pair towards 1.9282 (Higher BB).
• Immediate support is seen at 1.9062 (38.2%fib) and break below could take the pair towards 1.8937 (50%fib).
Recommendation: Good to buy around 1.9120, with stop loss of 1.9050, and target price of 1.9240
