• GBP/AUD held above 1.7900 on Friday as sterling was aided by BoE's optimistic longer-term outlook and UK's vaccine roadmap.
•The UK has stolen a march over its European counterparts as its vaccine rollout tops over 10 million recipients and pushes the country closer to relaxing current COVID restrictions.
• The cross pair has been on a bullish trajectory since Jan 1st week, A close above would strengthen sterling's hold bullish hold further.
• Technical signals are bullish as RSI is at 60, daily momentum studies 5, 9 DMA’s are trending up.
• Immediate resistance is located at 1.8054 ( 38.2%fib), any close above will push the pair towards 1.8099 ( Higher BB).
•Strong support is seen at 1.7926 (50%fib) and break below could take the pair towards 1.7803 (61.8%fib).
Recommendation: Good to buy around 1.7900, with stop loss of 1.7822 and target price of 1.8050.
