• GBP/ AUD staged a recovery on Thursday as the pair bounced back from an early dip as traders seek additional clarity on the Bank of England's rate expectations.
• Choppy overnight action leads to a short lived dip but, buyers emerged near 1.9315, pair nears the 38.2% fib.
• Technical signals are slightly bullish as RSI is at 54 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.9388 ( 38.2% fib), any close above will push the pair towards 1.9513(23.6%fib).
• Immediate support is seen at 1.9352 (5DMA) and break below could take the pair towards 1.9257 (50% fib).
Recommendation: Good to buy around 1.9350, with stop loss of 1.9280 and target price of 1.9450
