• GBP/ AUD consolidated on Monday on the eve of key wages data that will guide the Bank of England's future interest rate policy plans.
• A rally towards 1.8900 is possible if GBP/ AUD bulls overcome resistance at 1.8782( 23.6%fib).
• Technical signals show the pair could gain more ground in the short-term as RSI is at 52,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.8782( 23.6%fib), any close above will push the pair towards 1.8872 (May 2nd high).
• Immediate support is seen at 1.8650 (30DMA) and break below could take the pair towards 1.8512 (38.2%fib).
Recommendation: Good to buy around 1.8680, with stop loss of 1.8600 and target price of 1.8740
