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• GBP/AUD retreated from daily high on Tuesday as the pair gains faded as investors took profits on recent gains.
•The pound trimmed Mondays’ gains against the kiwi dollar , the pair was last trading at 0.02% at 1.8398
• Technical signals are bullish as RSI is at 62, daily momentum studies 5, 9 and 10 DMAs are trending north.
• Immediate resistance is located at 1.8480 (March 28th high ), any close above will push the pair towards 1.8530(23.6% fib).
• Strong support is seen at 1.8335 (38.2% fib) and break below could take the pair towards 1.8224(50% fib).
Recommendation: Good to buy on dips around 1.8360 with stop loss of 1.8250 and target price of 1.8460
