• GBP/ AUD rose higher on Monday as knock-on effect from China Covid lockdown's weighed Australian dollar.
• Australian dollar underperformed against pound as protests against COVID restrictions in China knocked market sentiment.
• At GMT 16:45, the pair was trading 0.55% higher at 1.7996, higest since Oct 31st.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 62,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.8073( 23.6%fib), any close above will push the pair towards 1.8188 (Higher BB).
• Immediate support is seen at 1.7915 (5DMA) and break below could take the pair towards 1.7740(38.2%fib).
Recommendation: Good to buy around 1.7980 with stop loss of 1.7900 and target price of 1.8100
