• GBP/ AUD gained on Tuesday as speedy rollout of COVID-19 vaccines by UK lifted the pair.
• Risk sentiment in markets has also benefited the pound, as has the Bank of England’s has pushed back negative interest rates.
• A close above 1.8131 (200DMA) , should trigger a new bullish phase with potential for 1.8200.
• Technical signals are strongly bullish as RSI is at 67, daily moving averages are trending up .
• Immediate resistance is located at 1.8052 (38.2%fib), any close above will push the pair towards 1.8131 (200DMA).
• Immediate support is seen at 1.7930 (38.2% fib) and break below could take the pair towards 1.7803(61.8%fib).
Recommendation: Good buy around 1.7950, with stop loss of 1.7820 and target price of 1.8050
