• GBP/AUD dipped on Thursday as investors avoided taking position due to U.S. holiday.
• Trading volume was thin across markets as U.S. stocks and bonds markets were shut due to the Thanksgiving holiday.
• The pound was a fraction weaker against Australian dollar at 1.9515
• Technicals are favoring bullish sentiment as RSI is at 51 and the pair is trading above 5,10 & 11-DMAs.
• Immediate resistance is located at 1.9563 (23.6%fib), any close above will push the pair towards 1.9641(Nov 15th high)
• Strong support is seen at 1.9478(38.2% fib)and break below could take the pair towards 1.9415 (50% fib).
Recommendation: Be on sidelines
