• GBP/AUD strengthened on Monday as easing of lockdowns in UK supported sterling.
• GBP/AUD rises from 1.7960 (intra-day low), lift stops after finding resistance at 1.8058 (10WMA).
• GBP/AUD remains bullish, only a break and daily close below 1.7924(38.2%fib)will shift bias to the downside.
• Technical are bearish, daily RSI is negative at 52, daily momentum studies 5 and 11 DMAs are trending up.
• Immediate resistance is located at 1.8058 (10WMA), any close above will push the pair towards 1.8111 (23.6%fib).
• Strong support is seen at 1.8000 (30DMA) and break below could take the pair towards 1.7924(38.2%fib).
Recommendation: Good to buy around 1.8030, with stop loss of 1.7900 and target price of 1.8100
