GBP/AUD ----- A golden currency pair to bet ??

In view of the lower than expected inflation rate, RBA (Australia) is again  expected to keep Rate unchanged. However, we have a Hawkish BOE ( UK) statement  on the higher prospect of increasing her Rate near term.

The above contradicting  scenario will result in an interesting trade on GBP/AUD., and as usual , AUD is always a target on Risk Aversion.

H4 Chart GBP/USD

On  H4, we note that if the PA (Price Action) can break the Ichimoku cloud top resistance near 1.7376, then the next target 1.7543, being its next resistance shall be exposed., follows by higher next target at 1.7815(61.80 %   Fibo Ext).

There may be another bad news for AUD,:- Market rumor says the China PMI data might have fallen sharply when August data is released with some predicting a dip for manufacturing beneath the 50-line meaning contraction for the first time in 18 months.

This is a very interesting and rewarding trade, with possibility of over 200 pips gain. You may wait for pull back on upcoming Monday , and looking for the best opportunity to BUY UP.