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• GBP /AUD strengthened on Tuesday as sterling was supported by progress in Britain's vaccination programme and upbeat comments by BoE Governor Andrew Bailey.
• The pair attempted to breach resistance at 1.8112 and dipped towards 1.8051 level .
• The pairs rise above the 1.7986 (50%fib) has reinforced the growing bullish strength, putting focus on resistance at1.8200.
• Immediate resistance is located at 1.8112 (50% fib), any close above will push the pair towards 1.8200 (Psychological level).
• Immediate support is seen at 1.7986 (50%fib) and break below could take the pair towards 1.7925 (11DMA).
Recommendation: Good to buy on dips around 1.8040, with stop loss of 1.7950 and target price of 1.8130.
