• GBP/AUD strengthens on Monday as the UK’s relative success in COVID-19 vaccinations supported the British currency.
• GBP/AUD remains bullish, only a break and daily close above 1.7875 will shift bias to the downside.
• Technical are bullish, daily RSI is positive at 57, daily momentum studies 5 and 9 DMAs are trending up.
• Immediate resistance is located at 1.8096(Daily high ), any close above will push the pair towards 1.8135 (23.6%fib).
• Strong support is seen at 1.7949 (50%fib) and break below could take the pair towards 1.7875 (21DMA).
Recommendation: Good to buy around 1.8000, with stop loss of 1.7860 and target price of 1.8160
