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FxWirePro: GBP/AUD rebounds, critical resistance lies ahead

• GBP/AUD rebounded on Wednesday as the pair attracted buyers ahead purchasing managers index (PMI) numbers from the UK.

• The upcoming UK purchasing managers index (PMI) data is expected to provide crucial insights into the nation's economic performance, with forecasts suggesting potential growth. 

•  A daily close above 1.9412   will further improve the technical outlook, and open the possibility of a rally towards 1.9500  level   
 
• Technical are bullish, daily RSI is  up at 51 , daily momentum studies  9 and 10 DMAs are trending north. 

•  Immediate resistance is located at 1.9412 (50%fib ), any close above will push the pair towards 1.9496 (61.8%fib).

• Strong support is seen at 1.9288(38.2%fib ), and break below could take the pair towards 1.9181 (Lower BB).

Recommendation: Good to buy  around 1.9480 with stop loss of 1.9420 and target price of 1.9570

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