FxWirePro:GBP/AUD consolidates above rising trendline,Outlook is bullish
• GBP/AUD recovered ground on Thursday, as the pair found support at 1.9303 (Trend line).
• Currently,the 1.9303 (Trend line) barrier is restricting lower move, will likely be a speed bump to bears.
• Technical signals are bullish as RSI is at 58.28 , daily momentum studies 5, 9 and 10 DMAs are trending up.
• On the upside, Immediate resistance is located at 1.9500 (Daily High ), any close above will push the pair towards 1.9595 (Higher BB).
• On the downside, strong support is seen at 1.9459 (9 DMA) and break below could take the pair towards 1.9303 (Trend line).
Recommendation: Good to buy on dips around 1.9300, with stop loss of 1.9200 and target price of 1.9650.