• GBP/AUD gained on Tuesday, rebounding from the previous session's losses as risk sentiment recovered.
• At GMT 17:25, the pair was trading up 0.31 percent at 1.8878 after reaching daily low at 1.8794.
• Technical signals are bullish as RSI is at 56, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.8929 (23.6%fib ), any close above will push the pair towards 1.8993 (Higher BB).
• Strong support is seen at 1.8800(38.2%fib) and break below could take the pair towards 1.8696 (50%fib).
Recommendation: Good to buy on dips around 1.8850, with stop loss of 1.8800 and target price of 1.8920.
