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FxWirePro:GBP/AUD uptrend gains momentum, good to buy on dips

• GBP/ AUD steadied on Thursday as sterling was boosted across the board ahead of UK GDP data.

• Traders focus also stayed  on global rate outlook after expectations rose this week for bigger interest rate hikes from the U.S Federal Reserve.

 • At GMT 16:32  the pair was trading up 0.33 percent  at 1.8023 reversing course from daily low  1.7921(Daily low).

• Technical signals show the pair could gain more ground in the short-term as RSI is rising from below,while moving averages are trending higher.

• Immediate resistance is located at 1.8029(23.6%fib), any close above will push the pair towards 1.8080 (Higher BB).

• Immediate support is seen at 1.7916 (5DMA) and break below could take the pair towards 1.7865 (38.2%fib).

Recommendation: Good to buy around 1.8000, with stop loss of 1.7900 and target price of 1.8100

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