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FxWirePro:GBP/AUD extends gains, faces 23.6%fib resistance

• GBP/AUD extended gains   on Thursday as GBP  benefited from subdued  New Zealand dollar and  softer U.S. data.

• The is pair heading towards the 23.6%fib, as near term direction of the pair is likely to be driven by current price action.  

• Technical are strongly bullish, daily RSI is positive at 55, daily momentum studies  9 and 10 DMAs are trending up. 

• Immediate resistance is located at 1.7843(23.6%fib), any close above will push the pair towards 1.7891 (Higher BB).

• Strong support is seen at 1.7714 (10DMA) and break below could take the pair towards 1.7666 (38.2%fib).

Recommendation: Good to buy   around 1.7780, with stop loss of 1.7700 and target price of 1.7850
 

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