GBP/AUD retreated slightly after making a high of 2.1242 and intraday trend is bullish as long as 2.0980 holds.
GBP is trading higher against all currencies on policy divergence and rake hike is expected slightly earlier than before as the UK economy is performing better than expected.
Technically the pair’s major resistance is around 2.125 and break above will target 2.1399 ( 161.8% retracement of 2.12429 and 2.099).
On the downside any break below 2.0980 will drag the pair further down till 2.070/2.040.
It is good to buy around 2.1145 with SL around 2.0990 for the TP of 2.1240/2.1380.
GBP is trading higher against all currencies on policy divergence and rake hike is expected slightly earlier than before as the UK economy is performing better than expected.
Technically the pair’s major resistance is around 2.125 and break above will target 2.1399 ( 161.8% retracement of 2.12429 and 2.099).
On the downside any break below 2.0980 will drag the pair further down till 2.070/2.040.
It is good to buy around 2.1145 with SL around 2.0990 for the TP of 2.1240/2.1380.