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FxWirePro: GBP/AUD steadies above 1.8000, retains bid tone

• GBP/AUD strengthened on Thursday as market narrative towards strong UK vaccination process   supported sterling across the board.

• Sterling bulls remain in control eyeing further gains versus the AUD. Rally likely to intensifies further

• Sterling  has benefiting of late  on rollout of vaccines, and the eventual reopening of UK economy.

• Rising daily, monthly RSIs & Daily bull hammer give techs a bullish lean. 

• Immediate resistance is located at 1.8018 (Daily high ), any close above will push the pair towards 1.8133 (23.6%fib).

• Strong support is seen at 1.7943 (38.2%fib) and break below could take the pair towards 1.7796 (21DMA).

 Reccomendation:Good to buy   around 1.7980, with stop loss of 1.7900 and target price of 1.8100.

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