• GBP /AUD strengthened on Thursday as the pair benefitted from ECB event , shrugging off rising Delta COVID cases.
• The pair hit daily high at 1.8349 and was last trading at 1.8342 at (GMT 15:37).
• The pairs rise above the at 38.2%fib has reinforced the growing bullish strength, putting focus on resistance at 1.8600.
• Immediate resistance is located at 1.8560 (23.26%fib), any close above will push the pair towards 1.8587(Higher BB).
• Immediate support is seen at 1.8484 (38.2%fib) and break below could take the pair towards 1.84599(5DMA).
Recommendation: Good to buy on dips around 1.8540, with stop loss of 1.8430 and target price of 1.8620.
