FxWirePro:GBP/AUD bulls shrug off UK reopening delay, consolidates above 1.8300
• GBP/AUD strengthen on Tuesday as upbeat UK jobs data and weaker Australian dollar boosted sterling against Australian dollar.
• UK payroll numbers were up 197,000 in May, biggest rise on record. Jobless rate fell to 4.7% in three months to August.
• The is pair heading towards the lower 23.6%fib, as near term direction of the pair is likely to be driven by current price action.
• Technical are bullish, daily RSI is negative at 57, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.8379 (Higher BB ), any close above will push the pair towards 1.8452(23.6%fib).
• Strong support is seen at 1.8319 (38.2%fib ), and break below could take the pair towards 1.8217(50%fib).
Recommendation: Good to buy around 1.8320, with stop loss of 1.8220 and target price of 1.8410