FxWirePro: GBP/AUD capped at 200-DMA, break above targets 61.8% Fib

GBP/AUD chart on Trading View used for analysis

• GBP/AUD struggles to break above 200-DMA, trades rangebound at 1.7890 at 0600 GMT.
   
• The pair is trading higher for the 3rd straight session, bias is bullish.
   
• RSI is above 50 and biased higher. Stochs have bounced of near oversold levels and bias higher.
   
• Price action extends in 'Symmetric Triangle' pattern and break above 200-DMA could see further upside.
   
• Next major resistance above 200-DMA lies at 61.8% Fib at 1.8148 ahead of 'Traingle Top' at 1.8220.
   
• On the flipside, 5-DMA is immediate support at 1.7822. Break below eyes 1.7650 (Triangle base).

Support levels - 1.7855 (110-EMA), 1.7822 (5-DMA), 1.78

Resistance levels - 1.7894 (200-DMA), 1.7968 (50% Fib), 1.8148 (61.8% Fib)

Recommendation: Watchout for break above 200-DMA to go long.

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