• GBP/AUD dipped on Friday as investors kept their focus on the UK fiscal position.
• Yields on 30-year UK government bonds, or gilts, briefly spiked this week to their highest level since 1998.
• The UK government set November 26 as the date for the next budget, with Finance Minister Rachel Reeves under pressure to keep public finances on track.
• On the data front,UK retail sales volumes rose 0.6% in July from June, the ONS said Friday, beating the 0.2% increase forecast in a poll.
• Immediate resistance is located at 2.2707(50%fib), any close above will push the pair towards 2.0735 (SMA20).
• Strong support is seen at 2.0481 (38.2% fib) and break below could take the pair towards 2.0397(Lower BB).
Recommendation: Good to buy around 2.0600 , with stop loss of 2.0480 and target price of 2.0720
