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FxWirePro:GBP/AUD bulls undeterred, room for further gains

• GBP/ AUD rose sharply  on Friday as dovish shift in Fed expectations boosted the pair.

• The U.S. economy added jobs at a brisk clip in February, but slower wage growth and a rise in the unemployment rate prompted markets to dial back expectations for a 50-basis point rate hike.

 • At GMT 18:31  the pair was trading up 0.33 percent  at 1.8268 ,higest since 21st Dec 2022 .

• Technical signals show the pair could gain more ground in the short-term as RSI is at 73,while moving averages are trending higher.

• Immediate resistance is located at 1.8295(23.6%fib), any close above will push the pair towards 1.8335 (Higher BB).

• Immediate support is seen at 1.8092 (38.2%fib) and break below could take the pair towards 1.8041 (5DMA).

Recommendation: Good to buy around 1.8260, with stop loss of 1.8190 and target price of 1.8340

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