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• GBP/AUD rose higher on Monday as pound benefited from increased risk appetite.
• Traders awaited UK gross domestic product data later this week, which may add clarity to BoE policy .
•At GMT 19:52, the pair was trading up 0.48 percent at 2.0360 after reaching daily high at 2.0388
• A rally towards 1.9100 is possible if GBP/AUD bulls overcome resistance at 38.2% fib.
• Immediate resistance is located at 1.9005 (38.2% fib), any close above will push the pair towards 1.9101 (23.6% fib).
• Immediate support is seen at 1.8925 (50% fib) and break below could take the pair towards 1.8849 (61.8% fib).
Recommendation: Good to buy around 1.8980, with stop loss of 1.8900 and target price of 1.9100
