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FxWirePro: GBP/AUD remains bullish as rally continues

• GBP /AUD strengthened  on Tuesday   as Australian dollar weakened after coronavirus news threatened to upend the outlook for monetary policy in Australia

• Australia's central bank said it would be prepared to take policy action should coronavirus lockdowns across the country threaten a deeper economic setback, minutes from its August meeting showed on Tuesday.

•The pair hit daily high at 1.8953 and was last trading at 1.8946 at (GMT 21:50).

• From a technical viewpoint, the moving averages are pointing upwards, while the RSI  is strongly bearish at 67.
.
• Immediate resistance is located at 1.8966 (23.6% fib), any close above will push the pair towards 1.9016 (Higher BB).

• Immediate support is seen at 1.8859 (38.2%fib) and break below could take the pair towards 1.8813 (21DMA).

Recommendation: Good to buy on dips around 1.8900, with stop loss of 1.8800 and target price of 1.8960.

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