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FxWirePro: GBP/AUD buoyancy keeps consolidation intact, set for further gains

Monday, April 11, 2022 10:13 PM UTC

• GBP/AUD strengthened on Monday as lower oil prices and soured risk sentiment weighed on Australia dollar.

•The pair is approaching 38.2% retracement at 1.7719, a daily close above which will accelerate towards 1.7750 level.

• From a technical viewpoint, the moving averages are pointing upwards, while the RSI is slowly curving up.

• Immediate resistance is located at 1.7719 ( 38.2%fib), any close above will push the pair towards 1.7920 ( Higher BB).

• Strong support is seen at 1.7495(5DMA ) and break below could take the pair towards 1.7435 (23.6%fib).

Recommendation: Good to buy around 1.7500, with stop loss of 1.7400 and target price of 1.7610.

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FxWirePro: GBP/AUD buoyancy keeps consolidation intact, set for further gains

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