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FxWirePro:GBP/AUD bulls undeterred, eyes 23.6%fib resistance

• GBP/ AUD gained on Monday as lockdown lifting, expectations for BoE rate hikes  boosted  sterling against Australian dollar, despite concerns of spike in global COVID-19 cases .

• UK's lockdown-ending "Freedom Day"   encouraged the market to push back against the notion of an accelerated path to BoE rate hikes.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 67,while moving averages and MACD are trending higher. 

• Immediate resistance is located at 1.8658( Higher BB), any close above will push the pair towards 1.8700(23.6%fib).

• Immediate support is seen at 1.8586 (38.2%fib) and break below could take the pair towards 1.8552(9DMA).

Recommendation: Good to buy around 1.8600, with stop loss of 1.8500 and target price of 1.8690
 

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