FxWirePro: GBP/AUD runs out of steam but maintains bullish outlook

• GBP/AUD retreated on Thursday as improved risk appetite and higher oil prices supported Australian dollar.

• Pair traded in a quiet 1.9167/1.9030  range and was last trading at 1.9055  into the US afternoon. 

• Technical signals are bullish as RSI is at 64, daily momentum studies  10,11 and 14 DMAs are trending down. 

• Immediate resistance is located at 1.9169 ( 23.6%fib), any close above will push the pair towards 1.9212(Higher BB).

• Strong  support is seen at 1.9032 (5DMA ) and break below could take the pair towards 1.8965 (38.2%fib).

Recommendation: Good to buy  around 1.9030, with stop loss of 1.8900 and target price of 1.9100