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FxWirePro: GBP/ AUD positions for another climb, eyes 1.7550 level

• GBP/ AUD gained on Thursday  as sterling was supported by   hawkish rhetoric from BoE policymakers and increased risk sentiment across the board .

• Investors will keep a close eye on the UK gross domestic product (GDP) data due to be published on Friday, a key metric in gauging the state of the economy.

• Bulls have tightened their grip after registering a close above the 1.9744 (50%fib),scope grows for bigger gains towards 1.7500. 

• Technical signals are strongly bullish  as RSI is bullish at 51, 5, 9,11 DMAs are trending up. 

• Immediate resistance is located at 1.9512(38.2%fib), any close above will push the pair towards 1.7550 (Feb 6th high).

•  Immediate support is seen at 1.9744 (50%fib) and break below could take the pair towards 1.9407 (9DMA).

Recommendation: Good buy around 1.9470, with stop loss of 1.9300and target price of 1.9550
 

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