FxWirePro: GBP/AUD bullish outlook with scope to target 1.8450
• GBP/AUD edged higher on Tuesday as the British currency was swept up from rallying risk markets as traders confronted mounting anxieties over Brexit trade deal.
• GBP/AUD bullish sentiment is holding up relatively well, rise from 1.8228 has taken price close to 23.6% fib, 1.8450.
• At GMT 19:32, the pair was trading 0.15% higher at 1.8332, slightly lower from session high at 1.8450.
• Technical signals are bullish as RSI is at 64, daily momentum studies 5 DMA, 9 EMA are trending up.
• On the upside, Immediate resistance is located at 1.8450 (Daily High ), any close above will push the pair towards 1.9000 (Higher BB).
• On the downside, strong support is seen at 1.8304 (38.2%fib) and break below could take the pair towards 1.8239 (5DMA).
Recommendation: Good to buy on dips around 1.8300 with stop loss of 1.8160 and target price of 1.8350