FxWirePro: GBP/AUD hit 4-month highs at 1.8529, pound holds gains as UK PM May opens door to Brexit delay

GBP/AUD chart on Trading View used for analysis

• GBP/AUD spikes past major trendline resistance at 1.8460, to hit 4-month highs at 1.8529.
   
• The pound sterling buoyed across the board after UK PM May finally opens door to Brexit delay past March 29.
   
• GBP/AUD extends previous session's gains, trades 1.85% higher on the day at 1.8530 at 1000 GMT after hitting highs of 1.8529.
   
• The pair is trading in a rising channel pattern. Technical studies are biased higher.
   
• We see scope for test of 1.8555 (88.6% Fib) ahead of 1.8728 (Oct 2018 high). 

Support levels - 1.8460 (trendline), 1.8386 (5-DMA), 1.8147 (61.8% Fib)

Resistance levels - 1.8555 (88.6% Fib), 1.8728 (Oct 2018 high)

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