• GBP/AUD steadied around 1.9300 level on Thursday after data from a British business activity survey came in stronger than expected.
• The preliminary S&P Global/CIPS Composite Purchasing Managers' Index (PMI), which includes services and manufacturing businesses, increased to 53.3, the highest level in nine months.
• Economists polled had forecast no change from January's reading of 52.9. A reading of 50 separates growth from contraction.
• Technical are bullish, daily RSI is at 53, daily momentum studies 5 and 9 DMAs are trending up.
• Immediate resistance is located at 1.9348(38.2% fib), any close above will push the pair towards 1.9455(Higher BB).
• Strong support is seen at 1.9217 (50% fib) and break below could take the pair towards 1.9184(Lower BB).
Recommendation: Good to buy around 1.9290, with stop loss of 1.9200 and target price of 1.9370
