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• GBP/AUD declined Monday as surging commodity prices supported Australian dollar ahead of monetary policy meeting from the Reserve Bank of Australia (RBA) on Tuesday.
• At GMT 19:51, the pair was trading down 0.12 percent at 1.8365.
• GBP/AUD remains bullish, downside scope is limited, however upcoming Reserve Bank of Australia (RBA) may reignite volatility.
• Immediate resistance is located at 1.8420 (23.6%fib ), any close above will push the pair towards 1.8453 (Higher BB).
• Strong support is seen at 1.8300 (38.2% fib) and break below could take the pair towards 1.8268 (9DMA).
Recommendation: Good to buy around 1.8330, with stop loss of 1.8250 and target price of 1.8430
