• GBP /AUD retreated on Friday as upside was limited as risk sentiment remained weak on global rates outlook.
• The pair hit daily high at 1.9277 and was last trading at 1.9177 at (GMT 17:30).
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is bearish at 55.
• Immediate resistance is located at 1.9277 (23.6% fib), any close above will push the pair towards 1.9106(5DMA).
• Immediate support is seen at 1.9100 (5DMA) and break below could take the pair towards 1.8983 (38.2% fib).
Recommendation: Good to buy on dips around 1.9170, with stop loss of 1.9100 and target price of 1.9270
