• GBP/ AUD reclaimed chunk of last week lost ground on Wednesday as bulls held their grip after release of Fed minutes .
• The minutes from the Fed meeting revealed that officials were confident that inflation was being brought under control. Additionally, there were concerns about the potential harm that an overly restrictive monetary policy might inflict on the economy.
• GBP/ AUD gains near 50%fib,consolidation likely to continue while market seeks fresh factors.
• Immediate resistance is located at 1.8848(50%fib), any close above will push the pair towards (61.8%fib).
• Support is seen at 1.8740(38.2%fib) and break below could take the pair towards 1.8613 (23.6%fib).
Recommendation: Good to buy around 1.8800, with stop loss of 1.8700 and target price of 1.8900
