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FxWirePro: GBP/AUD trends higher, but faces potential pitfalls

• GBP/AUD initially dipped    on Wednesday   but recovered some ground as the pair struggled for direction ahead of Fed rate decision

• In an up-and-down session, the pair hit low at 1.8692 in early trading then gained towards 1.8806.

• Technical are bullish, daily RSI is rising at 59, daily momentum studies  11and 14 DMAs are trending up. 

• Immediate resistance is located at 1.8815  (23.6%fib ), any close above will push the pair towards 1.8937(Higher BB).

• Strong support is seen at 1.8700(5DMA) and break below could take the pair towards 1.8618 (Daily low).

Recommendation: Be on sidelines


 

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