FxWirePro: GBP/AUD claws back some ground, bulls set to regain control
• GBP/AUD initially gained on Monday but gave up some ground as Australian dollar was aided by gains in equity , copper , yield.
• At GMT 17:03, the pair was trading down 0.42 percent at 1.8810 after reaching daily high at 1.8912.
• GBP/AUD remains bullish, only a close back below 1.9259 (21DMA), could upset the bullish order.
• Immediate resistance is located at 1.8930(23.6%fib ), any close above will push the pair towards 1.8980(Higher BB).
• Strong support is seen at 1.8774(38.2% fib) and break below could take the pair towards 1.8683 (9DMA).
Recommendation: Good to buy around 1.8800, with stop loss of 1.8700 and target price of 1.8880