• GBP/ AUD initially dipped on Thursday but recovered some ground on hawkish comments from BoE’s Mann.
• Catherine Mann said on Thursday that more tightening is needed, and cautioned that a pivot is not imminent.
• At GMT 17:31, the pair was trading down 0.08 percent at 1.7679 reversing course from daily low 1.7505 (Daily low).
• Technical signals show the pair could gain more ground in the short-term as RSI is rising from below,while moving averages are trending higher.
• Immediate resistance is located at 1.7752 (23.6%fib), any close above will push the pair towards 1.7885 (Jan 3rd high).
• Immediate support is seen at 1.7590 (5DMA) and break below could take the pair towards 1.7531 (38.2%fib).
Recommendation: Good to buy around 1.7670, with stop loss of 1.7550 and target price of 1.7750
