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• GBP/ AUD steadied on Wednesday as optimish that new British Prime Minister Rishi Sunak pledged to lead the country out of an economic crisis lifted the pair.
• GBP is continuing its rally after Rishi Sunak became Britain's prime minister.
• The pair currently is approaching resistance at 1.8014(23.6%fib). A break above will unmask 1.8100 level in the short term.
• Immediate resistance is located at 1.8014(23.6%fib), any close above will push the pair towards 1.8189 (Higher BB).
• Support is seen at 1.7838(14DMA) and break below could take the pair towards 1.7630 (38.2%fib).
Recommendation: Good to buy around 1. 7900, with stop loss of 1. 7750 and target price of 1. 8000
