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FxWirePro:GBP/AUD bulls undeterred, eyes 23.6%fib resistance

• GBP/AUD extended its yesterday’s bounce  as  upbeat UK GDP data boosted sterling against weaker Australian dollar.

• England's economy grew by a more than-anticipated 2.1% in March from February, building up momentum for what is expected  to be a sharp rebound this year after its profound Covid drop of 2020.

•The pair is currently approaching resistance at 1.8232(23.6% fib). Break above will further strengthen  upside in the pair.

• Technical signals are bullish as RSI is at 46, daily momentum studies  50 DMA, 5 EMA are trending up.

• Immediate resistance is located at 1.8232 ( 23.6%fib), any close above will push the pair towards 1.8252 ( 300DMA).

• Strong support is seen at 1.8146 (38.2%fib) and break below could take the pair towards 1.8100(Psychological level).

Recommendation: Good to buy around 1.8150, with stop loss of 1.8050 and target price of 1.8250

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