• GBP /AUD strengthened on Thursday as hawkish comments from Bank of England policymaker lifted the cross pair.
• Gertyan Vlige, a member of the Bank of England, said BOE may raise interest rates as early as next year, although he pointed out that if the economy recovers faster than expected, the rates may be raised even earlier.
• The pairs rise above the 1.8258 (38.2%fib) has reinforced the growing bullish strength, putting focus on 23.6% fib resistance .
• Immediate resistance is located at 1.8370 (23.6% fib), any close above will push the pair towards 1.8400 (Higher BB).
• Immediate support is seen at 1.8258 (38.2%fib) and break below could take the pair towards 1.8218 (11DMA).
Recommendation: Good to buy on dips around 1.8330, with stop loss of 1.8250 and target price of 1.8410.
