• GBP/AUD rallied strongly on Thursday as disappointing Australia's Dec jobs data weighed on Australian dollar.
• Australian dollar’s fall was also aided by lower equity and lower copper prices.
• GBP/AUD bulls confidence is running high, a test of the 1.8231 (23.6% fibo) highly seems likely.
• From a technical viewpoint, RSI is strongly bullish at 58, daily momentum studies, 5, 10 and 21 daily MAs all climb.
• Immediate resistance is located at 1.7945 (38.2%fib), any close above will push the pair towards 1.8052 (Higher BB).
• Immediate support is seen at 1.7730 (50% fib) and break below could take the pair towards 1.7667 (5DMA).
Recommendation: Good to buy on dips around 1.7920, with stop loss of 1.7830 and target price of 1.8050
