• GBP /AUD strengthened on Wednesday as Britain's speedy coronavirus vaccine rollout and optimism on the global outlook supported the pound.
• The pair hit daily high at 1.7923 and was last trading at 1.7903 at (GMT 16:03).
• The pairs rise above the 1.7891 has reinforced the growing bullish strength, putting focus on resistance at 1.7966(100DMA) and 1.8076(23.6%fib).
• Immediate resistance is located at 1.7966(100DMA), any close above will push the pair towards 1.8072 (23.6% fib).
• Immediate support is seen at 1.7891(38.2%fib) and break below could take the pair towards 1.7792 (21DMA).
Recommendation: Good to buy around 1.7890, with stop loss of 1.7780 and target price of 1.8000.
