• GBP/ AUD initially gained on Monday but gave up ground as the pair struggled for direction in holiday thin trade.
• A rally towards 1.9000 is possible if GBP/ AUD bulls overcome resistance at 23.6%fib.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 75,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.8958( 23.6%fib), any close above will push the pair towards 1.8994 (Higher BB).
• Immediate support is seen at 1.8826 (9DMA) and break below could take the pair towards 1.8701(38.2%fib).
Recommendation: Good to buy around 1.8870, with stop loss of 1.8800 and target price of 1.8940
