• GBP/ AUD extended gains on Thursday as risk-on sentiment prevailed due to easing concerns of a global banking meltdown.
• The pair hit daily high at 1.8498 and was last trading at 1.8464 at (GMT 19:21).
• The pairs rise above the 38.2%fib has reinforced the growing bullish strength, putting focus on resistance at 1.8542
• Immediate resistance is located at 1.8498(Daily high), any close above will push the pair towards 1.8542(23.6%fib).
• Support is seen at 1.8378 (38.2%fib) and break below could take the pair towards 1.8317(14DMA).
Recommendation: Good to buy around 1.8460, with stop loss of 1. 8300 and target price of 1.8550
