• GBP/AUD extended gains on Thursday as GBP benefited from subdued New Zealand dollar and softer U.S. data.
• The is pair heading towards the 23.6%fib, as near term direction of the pair is likely to be driven by current price action.
• Technical are strongly bullish, daily RSI is positive at 55, daily momentum studies 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.7843(23.6%fib), any close above will push the pair towards 1.7891 (Higher BB).
• Strong support is seen at 1.7714 (10DMA) and break below could take the pair towards 1.7666 (38.2%fib).
Recommendation: Good to buy around 1.7780, with stop loss of 1.7700 and target price of 1.7850
