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FxWirePro:GBP/AUD maintains bullish bias with focus on 1.8000

• GBP/AUD fell back towards  1.7900 on Wednesday after failing to break resistance at 1.7946    

• Despite today's GBP/AUD retreat from its highs, sterling bulls remain in control eyeing further gains versus the AUD.

• GBP/AUD has been consolidating of late, partly  on UK’s successful vaccine rollout.

• Technical are bullish, daily RSI is postive at 56, daily momentum studies  5,9 and 11 DMAs are trending north. 

• Immediate resistance is located at 1.7946 (38.2%fib ), any close above will push the pair towards 1.8000 (Psychological level).

• Strong support is seen at 1.7620 (5DMA) and break below could take the pair towards 1.7778 (50%fib).

 Recommendation: Good to buy   around 1.7900, with stop loss of 1.7800 and target price of 1.8050.

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