• GBP/AUD strengthened on Thursday as market narrative towards strong UK vaccination process supported sterling across the board.
• Sterling bulls remain in control eyeing further gains versus the AUD. Rally likely to intensifies further
• Sterling has benefiting of late on rollout of vaccines, and the eventual reopening of UK economy.
• Rising daily, monthly RSIs & Daily bull hammer give techs a bullish lean.
• Immediate resistance is located at 1.8018 (Daily high ), any close above will push the pair towards 1.8133 (23.6%fib).
• Strong support is seen at 1.7943 (38.2%fib) and break below could take the pair towards 1.7796 (21DMA).
Reccomendation:Good to buy around 1.7980, with stop loss of 1.7900 and target price of 1.8100.
