FxWirePro: GBP/AUD bullish outlook with scope to target 2.0150 level - EconoTimes


FxWirePro: GBP/AUD bullish outlook with scope to target 2.0150 level - EconoTimes

* GBP/AUD strengthened on Friday as bulls received a boost after U.S. PCE data that came in below expectations.

* The softer-than-expected inflation data eased slightly softened market expectations for future Federal Reserve rate hikes in the second half of 2025 .

* A daily close above 23.6%fib will further improve the technical outlook, and open the possibility of a rally towards 2.0150 level

* Technical are bullish, daily RSI is up at 62 , daily momentum studies 9 and 10 DMAs are trending north.

* Immediate resistance is located at 2.0245 (23.6%fib ), any close above will push the pair towards 2.0289(Higher BB).

* Strong support is seen at 2.0022(38.2%fib), and break below could take the pair towards 1.9825 (50%fib).

Recommendation: Good to buy around 2.0080 with stop loss of 2.0000 and target price of 2.0150

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