FxWirePro: GBP/AUD pivotal near 200-DMA, good to go long on break above

• GBP/AUD is attempting break above crucial 200-DMA resistance currently at 1.6710.
   
• Price action is holding above daily cloud and momentum studies are bullish.
   
• We have evidenced a bullish RSI divergence on daily charts.
   
• Decisive break above could see price action extend upto 1.69 (23.6% Fib retrace of 2.0530 to 1.5789 fall) and then 1.70 levels.
   
• On the flipside, we see bullish invalidation on close below 20-DMA. 

Support levels - 1.6578 (5-DMA), 1.6461 (20-DMA), 1.6291 (50-DMA)

Resistance levels - 1.6710 (200-DMA), 1.6722 (Apr 12 high), 1.6908 (23.6% Fib retrace of 2.0530 to 1.5789 fall)

TIME  TREND INDEX  OB/OS INDEX    

1H          Bullish                Neutral       
4H          Bullish                Neutral       
1D          Bullish                Neutral        
1W         Bullish                Neutral      

Recommendation: Good to go long on breakout above 200-DMA at 1.6710, SL: 1.6575, TP: 1.69/ 1.70/ 1.7175

FxWirePro Currency Strength Index: FxWirePro's Hourly GBP Spot Index was at 115.083 (Bullish), while Hourly AUD Spot Index was at -13.031 (Neutral) at 0640 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.