FxWirePro:GBP/AUD loses momentum but outlook is bullish

• GBP/AUD initially gained on Thursday but gave up ground as a rate hike from the Bank of England failed to keep the British currency against Australian dollar afloat.

• Pair traded in 1.9145/1.8988 range and was last trading at 1.9035. 

• Technical signals are bullish as RSI is at 61, daily momentum studies  5,9 and 10 DMAs are trending up. 

• Immediate resistance is located at 1.9050 ( 38.2%fib), any close above will push the pair towards 1.9101 (Higher BB).

• Strong support is seen at 1.9006(9DMA) and break below could take the pair towards 1.8944 (50%fib).

Recommendation: Good to buy  around 1.9030, with stop loss of 1.8950 and target price of 1.9120