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FxWirePro: GBP/AUD remains bullish as rally continues

• GBP /AUD strengthened on Thursday   as recovering risk sentiment in global markets helped pound gain against Australian dollar.

• The best performing “G10” currency on the day, sterling was up 0.16% against Aussie  at  1.8660 by 1400 GMT.

• Technical signals are bullish as RSI is at 66, daily momentum studies  5, 9 and 10 DMAs are trending north..

• Immediate resistance is located at 1.8694 (23.6%fib), any close above will push the pair towards 1.8752(Higher BB).

• Immediate support is seen at 1.8578 (38.2%fib) and break below could take the pair towards 1.8545 (5DMA).

Recommendation: Good to buy on dips around 1.8650, with stop loss of 1.8500 and target price of 1.8740.
 

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