• GBP/AUD strengthen on Monday as UK's rapid vaccine rollout, and hopes for the end of a third national lockdown supported sterling.
• Britain’s Brexit deal with the European Union has also removed some pressure from the sterling.
• GBP/AUD remains bullish, only a break and daily close above 1.7713 will shift bias to the downside.
• Technical are bearish, daily RSI is negative at 55, daily momentum studies 5 and 9 DMAs are trending up.
• Immediate resistance is located at 1.7927 (38.2%fib ), any close above will push the pair towards 1.7954 (Ichimoku Cloud Top).
• Strong support is seen at 1.7773 (50%fib) and break below could take the pair towards 1.7713 (Ichimoku Cloud Base).
Recommendation: Good to buy around 1.7800, with stop loss of 1.7710 and target price of 1.7930
