FxWirePro: GBP/AUD maintains bullish bias with focus on 1.8950
•GBP/ AUD initially dipped on Friday after down beat UK retail sales data but recovered ground as pair the found support at 1.8840.
•Bulls have tightened their grip after registering a close above the 1.8840 (38.2%fib),scope grows for bigger gains towards 1.8900.
•Technical signals are strongly bullish as RSI is bullish at 58, 5, 9,11 DMAs are trending up.
•Immediate resistance is located at 1.8950(23.6%fib), any close above will push the pair towards 1.9021(Higher BB).
• Immediate support is seen at 1.8840 (38.2%fib) and break below could take the pair towards 1.8793 (20DMA).
Recommendation: Good buy around 1.8870, with stop loss of 1.8800 and target price of 1.8950