• GBP/ AUD rose sharply on Thursday as Australian dollar declined against pound in the aftermath of Powell's hawkish back flip and lower commodity prices.
• The pair currently is approaching resistance at 1.9046( 23.6%fib). A break above 23.6%fib would unmask 1.9100 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 67,while moving averages are trending higher.
• Immediate resistance is located at 1.9046( 23.6%fib), any close above will push the pair towards 1.9085(Higher BB).
• Immediate support is seen at 1.8944 (5DMA) and break below could take the pair towards 1.8917 (38.2%fib).
Recommendation: Good to buy around 1.9020, with stop loss of 1.8900 and target price of 1.9100
