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FxWirePro:GBP/AUD steadies around1.7700, retains bid tone

• GBP/ AUD strengthened on Wednesday as   on softer-than-expected Australian wage data ,lower equities , commodities prices weighed on  Australian dollar .
 
• The pair currently is approaching resistance at 1.7744 ( 38.2%fib). A break above 1.7744 would unmask 1.7800 level in the short term.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 60,while moving averages and MACD are trending higher. 

• Immediate resistance is located at 1.7744( 38.2%fib), any close above will push the pair towards 1.7820 (Jan 23rd high).

• Immediate support is seen at 1.7614 (50%fib) and break below could take the pair towards 1.7537(5DMA).

Recommendation: Good to buy around 1.7680 with stop loss of 1.7580 and target price of 1.7750

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