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FxWirePro: GBP/AUD consolidates above 1.9000 after early fall, maintains bullish bias

• GBP /AUD dipped  on Monday  as markets looked ahead to the BoE meeting. 

• Investors on Monday squared position   ahead the MPC, which is expected to hike rates 25bps.

• The pair hit daily low at 1.8983 and was last trading at 1.9021 .

• Technical signals show the pair could gain more ground in the short-term as RSI is at 61 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 1.9087 (38.2%% fib), any close above will push the pair towards 1.9180 (Daily high).

• Immediate support is seen at 1.8981 (38.2% fib) and break below could take the pair towards 1.8948 (9DMA).

Recommendation: Good to buy on dips around 1.9000, with stop loss of 1.8900 and target price of 1.9070.
 

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