• GBP/AUD strengthened on Monday as risk-sensitive pound supported by European equity gains.
• Pair traded in 1.9350/1.9219 range and was last trading at 1.9328 up 0.47 percent in the US afternoon.
• Technical signals are bearish as RSI is at 66, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.9352(23.6%fib), any close above will push the pair towards 1.9414(Higher BB).
• Strong support is seen at 1.9214 (38.2%fib ) and break below could take the pair towards 1.9103 ( (50%fib).
Recommendation: Good to buy around 1.9310, with stop loss of 1.9230 and target price of 1.9390
