• GBP/ AUD gained on Thursday as decline in US bonds yields, accommodative ECB and ebb of anxiety concerning Northern Ireland and Brexit lifted the pair.
• GBP/ AUD stood at 1.8277, having recovered from 1.8182 (Daily low). GBP/ AUD has managed to stay above of major support around 1.8240 (38.2% fib).
• A close above 1.8332 (38.2%fib) , should trigger a new bullish phase with potential for 1.8400.
• Technical signals are bullish as RSI is at 55, daily moving averages are trending up .
• Immediate resistance is located at 1.8332 (38.2%fib), any close above will push the pair towards 1.8386 (Higher BB).
• Immediate support is seen at 1.8240 (38.2% fib) and break below could take the pair towards 1.8182(30DMA).
• Recommendation: Good buy around 1.8270, with stop loss of 1.8170 and target price of 1.8370