• GBP/ AUD staged a sharp recovery on Friday a surge in Treasury yields reversed the pairs down trend.
•GBP/ AUD gained speed in US trading after clearing the 1.7919 50%fib
• The pair currently is approaching resistance at 1.8059 (38.2% fib). A break above 1.8059 would unmask 1.8200 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 59,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.8059 ( 38.2%fib), any close above will push the pair towards 1.8200(Psychological level).
• Immediate support is seen at 1.7913(50%fib) and break below could take the pair towards 1.7853 (5DMA).
Recommendation: Good to buy around 1.8050, with stop loss of 1.7970 and target price of 1.8200
