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FxWirePro: GBP/AUD maintains bullish bias with focus on 2.0000 level

• GBP/AUD  rally extended   on Thursday    as the pair was boosted by higher Bank of England interest rate expectations and weaker Australian dollar.

• Latest UK inflation numbers reinforced bets that the BoE will likely hike interest rates again.

• A rally towards 2.0000 is   possible if  GBP/AUD  bulls overcome resistance at 23.6%fib.

• From a technical viewpoint, RSI  is strongly bullish at 57, daily momentum studies, 5, 10 and 21 daily  MAs all climb.

• Immediate resistance is located at 1.9919(23.6%fib), any close above will push the pair towards 1.9988(Higher BB).

• Immediate support is seen at 1.9793 (Daily low) and break below could take the pair towards 1.8186 (5DMA).

Recommendation: Good to buy   around 1.9890, with stop loss of 1.9790 and target price of 2.0000

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