FxWirePro: GBP/AUD room for further gains, good to buy on dips

• GBP/AUD initially gained  on Thursday but gave up most of the ground as traders attention turned to Fridays US NFP data .

•The pair failed to breach a key resistence  at 23.6 % fib (1.9843) as the pair was severely over bought.

• GBP/AUD remains bullish, only a break and daily close below 1.8045(5DMA) will shift bias to the downside.

• From a technical viewpoint, the moving averages are pointing upwards, while the RSI  is strongly bullish at at 62.

• Immediate resistance is located at 1.8190( Higher BB), any close above will push the pair towards 1.8261 ( 23.6 % fib).

• Strong support is seen at 1.8123 (Daily low ) and break below could take the pair towards 1.8080 (38.2%fib).

Recommendation: Good to buy around 1.8120, with stop loss of 1.8050 and target price of 1.8200