• GBP /AUD strengthened on Tuesday as the pair was boosted by UK jobs data.
• Data showed the number of staff on businesses payrolls in Britain rose by 160,000 in October versus the month before to 29.3 million, 0.8% higher than in February 2020 before the pandemic hit.
• The pair hit daily high at 1.8392 and was last trading at 1.8378 at (GMT 18:06).
• The pairs rise above the 1.8360 (38.2%fib)has reinforced the growing bullish strength, putting focus on resistance at 1.8400 level.
• Immediate resistance is located at 1.8473 (50% fib), any close above will push the pair towards 1.8501 (Higher BB).
• Immediate support is seen at 1.8360 (38.2%fib) and break below could take the pair towards 1.8230 (23.6%fib).
Recommendation: Good to buy on dips around 1.8360, with stop loss of 1.8315 and target price of 1.8420
