FxWirePro: GBP/AUD tests channel top at 1.6465, good to go long on break above

• GBP/AUD tests channel top at 1.6465, intraday bias higher, further upside on break above.
   
• British Pound gained fresh traction after the UK Parliament passed the EU Withdrawal Bill by 326 to 290 votes. 
   
• UK PM May has won a vote on Brexit bill timetable and the Parliament has passed a motion limiting scrutiny of the bill to 8 days.
   
• UK inflation data due later during the European trading session will be in focus for further direction.
   
• On the other side, the Aussie remained under pressure after the nation's business confidence index dropped to 5 in August from a reading of 12 last month.
   
• Technical studies support upside in the pair. We notice bullish divergence on daily charts.
   
• Cloud on weekly charts weighs on the upside (1.6460). Break above will see test of 200-DMA at 1.6662.

Support levels - 1.6352 (5-DMA), 1.6274 (20-DMA), 1.6187 (78.6% Fib of 1.5789 to 1.76509 rally)

Resistance levels - 1.6460 (weekly cloud base), 1.6465 (channel top), 1.6608 (daily cloud), 1.6662 (200-DMA)

Recommendation: Watch out for channel break to go long, target 200-DMA at 1.6662.

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