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FxWirePro:GBP/AUD rebounds as US yield spiral halts downtrend

• GBP/ AUD staged a sharp recovery on Friday a surge in Treasury yields reversed the pairs down trend.

•GBP/ AUD gained speed in US  trading after clearing the 1.7919 50%fib

• The pair currently is approaching resistance at 1.8059  (38.2% fib). A break above 1.8059  would unmask 1.8200 level in the short term.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 59,while moving averages and MACD are trending higher.

• Immediate resistance is located at 1.8059  ( 38.2%fib), any close above will push the pair towards 1.8200(Psychological level).

• Immediate support is seen at 1.7913(50%fib) and break below could take the pair towards 1.7853 (5DMA).

Recommendation: Good to buy around 1.8050, with stop loss of 1.7970 and target price of 1.8200

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