• GBP/AUD retreated back towards 1.8000 on Friday as the cross pair failed to break resistance at 1.8082
• Despite today's GBP/AUD retreat from its highs, sterling bulls remain in control eyeing further gains versus the AUD.
• GBP/AUD has been consolidating of late, partly on UK’s successful vaccine rollout.
• Technical are bullish, daily RSI is postive at 58, daily momentum studies 5,9 and 11 DMAs are trending north.
• Immediate resistance is located at 1.8082 (Higher BB ), any close above will push the pair towards 1.8136(23.6%fib).
• Strong support is seen at 1.7932 (38.2%fib) and break below could take the pair towards 1.7893 (9DMA).
Recommendation: Good to buy around 1.8000, with stop loss of 1.7790 and target price of 1.8100.
