• GBP/AUD recovered from earlier decline on Wednesday as upbeat comments from UK PM Boris Johnson on UK reopening on 21st June supported on British pound. • On Wednesday UK PM Johnson said there was nothing in the curren…
• GBP/AUD recovered from earlier decline on Wednesday as upbeat comments from UK PM Boris Johnson on UK reopening on 21st June supported on British pound.
• On Wednesday UK PM Johnson said there was nothing in the current data to suggest that date would have to be pushed back but we've got to be so cautious.
• The pullback from the 1.8213 daily low has passed through the 38.2% fibonacci retrace point at 1.8275 and now eyes the 23.6% fib at 1.8392.
• Technical signals are bullish as RSI is at 57, daily momentum studies 5 ,9 DMA’s are trending higher.
• Immediate resistance is located at 1.8322( Daily high), any close above will push the pair towards 1.8392 (23.6%fib).
• Immediate support is seen at 1.8275 (38.2% fib) and break below could take the pair towards 1.8213 (Daily low).
Recommendation: Good to buy around 1.8250 with stop loss of 1.8180 and target price of 1.8310.
