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FxWirePro: GBP /AUD getting back on track for a run towards 1.7600

• GBP /AUD initially dipped but recovered some ground  as rising geopolitical tensions and a broad risk-off mood  weighed on Australian dollar.

• Equity losses also weighed on the risk-sensitive Australian dollar.

• The pair hit daily high at 1.7679 and was last trading at 1.7490 late in US session.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 59 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 1.76664(23.6% fib), any close above will push the pair towards 1.7774 (Higher BB).

• Immediate support is seen at 1.7467 (9DMA) and break below could take the pair towards 1.7357 (38.2% fib).

Recommendation: Good to buy on dips around 1.7480, with stop loss of 1.7400 and target price of 1.7600.
 

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