• GBP/AUD gained sharply on Thursday as riskier currencies like Australian dollar lost out on expectations of stronger U.S. economic growth, rising U.S. bond yields and new COVID-19 lockdowns in Europe.
• The pair is holding near today's high, A close above 1.8146( 23.6%fib), will likely trigger a new bullish phase with potential for 1.8200.
• Technical favours bullish sentiment, RSI bullish at 62 & pair trades above 5,11 and 21-DMAs.
• Immediate resistance is located at 1.8146( 23.6%fib), any close above will push the pair towards 1.8200 (Psychological level).
• Immediate support is seen at 1.7992 (5 DMA ) and break below could take the pair towards 1.7953(38.2%fib).
Recommendation: Good to buy around 1.8090, with stop loss of 1.7950 and target price of 1.8200
