GBP/AUD breaks strong resistance at 1.8640, good to long dips

GBP/AUD extends upside after breaking strong trendline resistance at 1.8640.

Technical indicators suggest further upside in the pair.

RSI strength seen at 54, Stochs and MACD are biased north.

We see a bullish crossover of 5-DMA over 10-DMA.

Immediate support and resistance are located at 1.1828 (5-DMA) and 0.8850 (March 25th highs).

Good to buy dips around 1.8770, SL: 0.8675, TP: 1.8850/1.8890/1.89

Trade closed: target reached:

We see major hurdle at 1.9250 levels which is 23.6% Fib of 2.2372 to 1.8293 fall. Further upside only on breaks above.

Momentum studies on weeklies are neutral. We recommend booking full profits for now.