• GBP/AUD retreated from daily high on Wednesdays after data showed cooler-than-expected headline inflation in March.
• GBP /AUD fell as low as 1.8549 before buyers returned .Support at 1.8440(38.2%fib) is holding but break would warn of correction.
• Technical signals are bullish as RSI is at 69, daily momentum studies 10,11 and 14 DMAs are trending up.
• Immediate resistance is located at 1.8708( Daily high), any close above will push the pair towards 1.8837 (23.6%fib).
• Immediate support is seen at 1.8440(38.2%fib) and break below could take the pair towards 1.8436(20DMA).
Recommendation: Good to buy around 1.8630, with stop loss of 1.8550 and target price of
