FxWirePro: GBP/AUD stuck in range but maintains bullish bias

• GBP/AUD edged higher on Tuesday as  higher than  estimate UK pmi data supported sterling.  

• The final reading of the IHS Markit/CIPS composite Purchasing Managers' Index (PMI), edged up to 54.9 from 54.8 in August.

• At GMT 21:53, the pair was trading up0.03 percent  at 1.8666 after reaching daily high at 1.8758.

• Bullish momentum is likely to pick up with a move above 38.2% fib, which would target resistance  at   1.8773 (50%fib).

• Immediate resistance is located at 1.8698 (38.2%fib ), any close above will push the pair towards 1.8773 (50%fib).

•Immediate support is seen at 1.8660(5DMA ) and break below could take the pair towards 1.8603(23.6%fib).

Recommendation: Good to buy around 1.8670, with stop loss of 1.8600 and target price of 1.8750.