FxWirePro: GBP/AUD buoyancy keeps consolidation intact,good to buy on dips

• GBP/AUD strengthened    on Friday as  improved risk sentiment supported sterling.
 
• Investors ignored survey data from GfK showing that U.K. consumer confidence dropped in February on weak economic conditions.

•The consumer sentiment index fell to -21 in February from -19 in January. The score was seen at -18.

• Technicals are bullish, daily RSI is at 53, daily momentum studies  5 and 9 DMAs are trending up. 

• Immediate resistance is located at 1.9361(23.6% fib), any close above will push the pair towards 1.9455(Higher BB).

• Strong support is seen at 1.9214 (38.2% fib) and break below could take the pair towards 1.9190(Lower BB).

Recommendation: Good to buy  around 1.9290, with stop loss of 1.9200 and target price of 1.9380