GBP/AUD has been in a strong up trend since its September breakout from a tight consolidation reaching a high of 2.7062 on October 8th. Fibonacci support begins at the 38.2% level near 2.4515, the 50% level at 2.3698 and the 61.8% support level comes in at 2.2882. For you Elliott wave fans, the daily chart looks to be consolidating in a complex wave 4 correction that is forming a pennant in an uptrend. Usually, pennants in up trends break to the upside. A measuring objective would take us into the 2.8000 area and beyond.