FxWirePro: GBP/AUD leans bullish but lacking momentum

• GBP/AUD  recovered ground from initial decline on Friday as data showed British growth beat expectations in November.

• UK  economy expanded by 0.3% month-on-month in November , surpassing economists' expectations of 0.2%, following a contraction of 0.3% in October.

• A rally towards bigger resistance in the 1.9130 zone is possible if GBP/AUD  bulls overcome interim resistance at 1.9081. 

• Technical signals are strongly bullish as RSI is at 60, moving averages  5, 10 & 11-day Mas are in a bullish formation. 

• Immediate resistance is located at 1.9081 (23.6% fib), any close above will push the pair towards 1.9125 ( Higher BB).

• Immediate support is seen at 1.8988(38.2%fib) and break below could take the pair towards 1.8913(50%fib).

 Recommendation: Good to buy around 1.9050, with stop loss of 1.8900 and target price of 1.9120.