• GBP/AUD initially dipped on Thursday but recovered some of the ground as buying demand continued near 1.8840 level.
• The pair hit daily low at 1.8809, it last trading at 0.19% at 1.8842.
• Technical signals are bullish as RSI is at 69, daily momentum studies 5,9,21 DMA are trending north.
• Immediate resistance is located at 1.8909(23.6%fib ), any close above will push the pair towards 1.8973 (Higher BB).
• Strong support is seen at 1.8747 (5DMA) and break below could take the pair towards 1.8631(38.2%fib).
Recommendation: Good to buy around 1.8820 with stop loss of 1.8720 and target price of 1.8900 .
