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FxWirePro: GBP/AUD maintains bullish bias with focus on 2.0250

• GBP/AUD strengthened on Thursday as Australian dollar continued to be weighed down   by RBA’s dovish rate expectations.

• The Reserve Bank of Australia's December meeting minutes showed that the board plans to keep policy restrictive for now but may consider easing as early as February.

• A rally towards is  2.0250 level is  possible if  GBP/AUD bulls overcome resistance at 23.6%fib .

• Technical signals are bullish as RSI is at 61, daily momentum studies  5 DMA, 9 EMA are trending up. 

•  Immediate resistance is located at 2.0182 (23.6%fib ), any close above will push the pair towards 2.0302 (Higher BB).

•  Strong support is seen at 2.0066 (Daily low) and break below could take the pair towards2 .0013 (38.2%fib).

Recommendation: Good to buy on dips around 2.0070 with stop loss of 1.9950  and target price of 2.0250
 

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