• Major resistance – 1.7140 (trend line joining 1.71737 and 1.71540)
   
• Major support- 1.68000
   
• The pair recovered sharply after making a low of 1.69300 on 29th Dec 2016.It is currently trading around 1.71090.
   
• GBP/AUD should break above 1.7140 for further jump till 1.7729 is possible.
   
• On the lower side, pair should break below 1.68000 for further weakness.  Any break below 1.6800 will drag the pair to next 1.65500 in the short term.
   
• The trend line resistance will be acting as major resistance and any close above will take the pair to next level till 1.7570/1.7725 (200- day MA).
  
  It is good to buy above 1.7140 with SL around 1.6950 for the TP of 1.7725/1.7800