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FxWirePro:GBP/AUD consolidating around 1.8475, bias is bullish

• GBP/ AUD strengthened  on Monday as the improving outlook for banks spurred and upbeat UK CBI data boosted sterling.

• A rally towards 1.8550 is   possible if  GBP/ AUD bulls overcome resistance at 23.6%fib.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 75,while moving averages and MACD are trending higher. 

• Immediate resistance is located at 1.8482( 23.6%fib), any close above will push the pair towards 1.8554 (Higher BB).

• Immediate support is seen at 1.8370 (5DMA) and break below could take the pair towards 1.8266(38.2%fib).

Recommendation: Good to buy around 1.8460, with stop loss of 1.8340 and target price of 1.8550

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