FxWirePro: GBP/AUD tests 23.6% Fib, bullish divergence keeps scope for further gains

GBP/AUD chart on Trading View used for analysis

• GBP/AUD consolidates previous session's gains, bias higher.
   
• The pair has tested 23.6% Fib retracement at 1.7770 and bullish divergence keeps scope for further upside.
   
• Stochs and RSI are showing a rollover from oversold levels and MACD is also on verge of a bullish crossover.
   
• Next major resistance aligns at 21-EMA at 1.7869. Break above targets 38.2% Fib at 1.7953.
   
• We see immediate support at 5-DMA at 1.7685. Break below 1.7485 (trendline support) to see major weakness.

Support levels - 1.7685 (5-DMA), 1.76, 1.7474 (Nov 16 low)

Resistance levels - 1.7869 (21-EMA), 1.7953 (38.2% Fib)

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.