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FxWirePro: GBP/AUD consolidates around 1.8650, maintains bullish bias

• GBP/AUD strengthened on Thursday as improving outlook for UK economy   boosted sterling across the board.

• British economic data has largely come in slightly better than feared, that in turn has driven market expectations of more interest rate hikes from the Bank of England (BOE).

• A rally towards is  1.8735 level is  possible if  GBP/AUD bulls overcome resistance at 1.8671 (23.6%fib ).

• Technical signals are bullish as RSI is at 69, daily momentum studies  5 DMA, 9 EMA are trending up. 

•Immediate resistance is located at 1.8671 (23.6%fib ), any close above will push the pair towards 1.8735(Higher BB).

• Strong support is seen at 1.8483(5DMA) and break below could take the pair towards 1.8452 (38.2%fib).

Recommendation: Good to buy on dips around 1.8640 with stop loss of 1.8550  and target price of 1.8730

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