• GBP/AUD hovers in middle of Monday’s range as rsk aversion fuelled by Ukraine fears kept investors cautious.
• Riskier currencies such as the British pound,Australian dollar struggled while the U.S. dollar, which is seen as a safe-haven, strengthened.
• GBP/AUD remains bullish, only a break and daily close above 1.8276 (61.8% fib) will shift bias to the upside.
• Technical are bullish, daily RSI is negative at 56, daily momentum studies 11and 14 DMAs are trending up.
• Immediate resistance is located at 1.8995(38.2%fib ), any close above will push the pair towards 1.9236 (23.6%fib).
• Strong support is seen at 1.8934 (5DMA) and break below could take the pair towards 1.8894 (Lower BB).
Recommendation: Good to buy around 1.8980, with stop loss of 1.8900 and target price of 1.9050
