FxWirePro: GBP/AUD bears maintain upper hand

• GBP/AUD initially dipped but recovered some ground   on Friday  as investors assessed this weeks BoE rate decision and Middle East hostilities.

• British finance minister John Healey said ​he will hold his first budget on October 28 and pledged to stick to the borrowing rules he inherited from his predecessor Rachel Reeves.

•Economists say the government has only a small margin of ​error for hitting that target and some of Prime Minister Andy Burnham's policy priorities   ​such as extra defence spending and better social care   will put more strain on the public finances.

•The ‌Bank ⁠of England held interest rates on Thursday, but the number of dissenters was three compared with expectations of two, as the impact of the Iran conflict on the economy worried policymakers..

• Immediate resistance is located at 1.9198(SMA 20), any close above will push the pair towards 1.9235(38.2%fib).

• Immediate support is seen at 1.9092 (50%fib) and break below could take the pair towards 1.8089(Lower BB).

Recommendation: Good to sell around 1.9190, with stop loss of 1.9250 and target price of 1.9080