• GBP/AUD retreated on Friday from highs as the pair ran into resistance after ticking up from 1.8471.
• GBP/AUD has been consolidating of late partly on post-Brexit trade optimism and Britain's vaccine deployment.
• GBP/AUD remains bullish, only a break and daily close above 50% fib fib at 1.8466 will shift bias to the downside.
• Technical signals are bullish as RSI is at 64, daily momentum studies 5, 9 and 10 DMAs are trending north.
• Immediate resistance is located at 1.8580 (Higher BB ), any close above will push the pair towards 1.8606 (23.6%fib).
• Strong support is seen at 1.8529 (38.2% fib) and break below could take the pair towards 1.8466 (50% fib).
Recommendation: Good to buy on dips around 1.8520, with stop loss of 1.8460 and target price of 1.8610.
