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FxWirePro:GBP/AUD uptrend looks tired, but continues to hold

• GBP/AUD initially dipped on Thursday   but   recovered some  of the ground as buying demand continued near 1.8840 level.

• The pair hit daily low at 1.8809,  it  last trading  at  0.19% at 1.8842.

• Technical signals are bullish as RSI is at 69, daily momentum studies  5,9,21 DMA are trending north. 

• Immediate resistance is located at 1.8909(23.6%fib ), any close above will push the pair towards 1.8973  (Higher BB).

• Strong support is seen at 1.8747 (5DMA) and break below could take the pair towards 1.8631(38.2%fib).

Recommendation: Good to buy around 1.8820  with stop loss of 1.8720   and target price of 1.8900  .

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