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• GBP/AUD rose on Friday as investors focus turned to first budget of new UK government due on Oct. 30.
• The Labour Party's first budget in 14 years will end months of speculation about how much Reeves and Starmer will borrow for infrastructure investment and how hard they will hit taxpayers.
• Reeves' budget on Wednesday is likely to include an array of revenue-raising changes, a prospect that has worried households and business
• Technical are bullish, daily RSI is up at 52 , daily momentum studies 9 and 10 DMAs are trending north.
• Immediate resistance is located at 1.9646(23.6%fib ), any close above will push the pair towards 1.9661 (Higher BB).
• Strong support is seen at 1.9550(38.2%fib ), and break below could take the pair towards 1.9520(Daily low low).
Recommendation: Good to buy around 1.9630 with stop loss of 1.9550 and target price of 1.9710
