FxWirePro: GBP/AUD approaches key resistance,1.9000 in play

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FxWirePro: GBP/AUD approaches key resistance,1.9000 in play

Friday, December 3, 2021 10:57 PM UTC

• GBP/AUD strengthened on Friday as uncertainty sparked by the Omicron coronavirus variant weighed Australian dollar .

• GBP/ AUD rises towards 1.9650 and holds near the day's high in US session..

• GBP/AUD remains bullish, only a break and daily close above 1.8646 (50%fib)will shift bias to the downside.

• Technical lean bullish as daily RSI is positive at 69, daily momentum studies 14 and 21 DMAs are trending up.

• Immediate resistance is located at 1.8924 (23.6%fib ), any close above will push the pair towards 1.9000 (Psychological level).

• Strong support is seen at 1.8778(38.2%fib) and break below could take the pair towards 1.8646 (50%fib).

Recommendation: Good to buy around 1.8880, with stop loss of 1.8800 and target price of 1.9000

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