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FxWirePro: GBP/AUD gains upside momentum as surprise US CPI puts bulls in charge

• GBP/AUD strengthened on Wednesday  as the pair was propelled by surprise US Inflation data.

• At GMT 20:19, the pair was trading up 0.70 percent  at 1.9255 after reaching daily high at 1.9299.

• Technical signals are bullish as RSI is at 52, daily momentum studies  5, 9 and 10 DMAs are trending up. 

•  Immediate resistance is located at 1.9309 (23.6%fib ), any close above will push the pair towards 1.9378(April 1st high).

• Strong support is seen at 1.9196 (38.2% fib) and break below could take the pair towards 1.9112(50% fib).

Recommendation: Good to buy on dips around 1.9240, with stop loss of 1.9150  and target price of 1.9330

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