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FxWirePro: GBP/AUD consolidates above 1.8350 , maintains bullish bias

• GBP/AUD strengthened on Tuesday as broad Australian dollar weakness helped the pound gain against antipodean currency.

• GBP/AUD hits session high at 1.8393. Investors awaited   key US inflation data for clues on US inflation scenario.

• Heading into the US afternoon the pair was  trading near session high,A close above the 1.8422 38.2%fib would add further bullish pressure.

• Technical signals are bullish as RSI is rising, daily momentum studies  5,9,11 DMA are trending north. 

• Immediate resistance is located at 1.8412 (38.2%fib ), any close above will push the pair towards1.8482 (23.6%fib).

• Strong support is seen at 1.8353 (50%fib) and break below could take the pair towards 1.8296 (61.8%fib).

Recommendation: Good to buy on dips around 1.8350 with stop loss of 1.8280 and target price of 1.8450.
 

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