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FxWirePro: GBP/AUD chart very bullish, looks on course for 1.9000

• GBP /AUD strengthened  on Wednesday   as dip in UK COVID-19 infections boosted sterling’s upbeat  sentiment across the board.

• Sterling’s sentiment was also lifted by an expected lessening of travel restrictions for visitors to England from abroad.

• The pair hit daily high at 1.8922 and was last trading at 1.8894 at (GMT 15:19).

• The pairs rise above the 38.2%fib has reinforced the growing bullish strength, putting focus on Psychological level at 1.9000.

• Immediate resistance is located at 1.8927 (Daily high), any close above will push the pair towards 1.8947 (23.6% fib).

• Immediate support is seen at 1.8828(38.2%fib) and break below could take the pair towards 1.8745 (50%fib).

Recommendation: Good to buy on dips around 1.8890, with stop loss of 1.8800 and target price of 1.9000.
 

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