• GBP/AUD gained ground on Monday as gradual easing of coronavirus lockdown in UK supported some buying interest.
• The rallied above 1.8200 psychological level,lift stops after finding resistance at 1.8212 (23.6%fib) .
• GBP/AUD remains bullish, only a break and daily close above 38.6% fib at 1.8111 will shift bias to the downside.
• Techicals lean bullish, daily RSI is trending higher 61, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.8212(23.6%fib), any close above will push the pair towards 1.8262 (April 1st high).
• Strong support is seen at 1.8135 (5DMA) and break below could take the pair towards 1.8116 (38.2%fib).
Recommendation: Good to buy around 1.8170 with stop loss of 1.8090 and target price of 1.8250
