FxWirePro: GBP/AUD claws back some ground after UK CPI unexpectedly falls, bulls set to regain control

•GBP/AUD initially rose on Wednesday, but gave up some ground after data showed surprise fall UK inflation .

• GBP/AUD hit session lows at 1.7978 in US trading, but the pull back  has been moderate so far. 

• GBP/AUD remains bullish, only a close back below  1.7867 (50DMA), could upset the bullish order.

• Immediate resistance is located at 1.8083 (Higher BB), any close above will push the pair towards 1.8116 (23.6% fib).

•Strong support is seen at 1.7933 (38.2% fib) and break below could take the pair towards 1.7867 (50DMA).

Recommendation: Good to buy  around 1.7990 with stop loss of 1.7860 and target price of 1.8100