• GBP/AUD retreated on Thursday as improved risk appetite and higher oil prices supported Australian dollar.
• Pair traded in a quiet 1.9167/1.9030 range and was last trading at 1.9055 into the US afternoon.
• Technical signals are bullish as RSI is at 64, daily momentum studies 10,11 and 14 DMAs are trending down.
• Immediate resistance is located at 1.9169 ( 23.6%fib), any close above will push the pair towards 1.9212(Higher BB).
• Strong support is seen at 1.9032 (5DMA ) and break below could take the pair towards 1.8965 (38.2%fib).
Recommendation: Good to buy around 1.9030, with stop loss of 1.8900 and target price of 1.9100