• GBP/ AUD gained on Thursday as sterling was supported by hawkish rhetoric from BoE policymakers and increased risk sentiment across the board .
• Investors will keep a close eye on the UK gross domestic product (GDP) data due to be published on Friday, a key metric in gauging the state of the economy.
• Bulls have tightened their grip after registering a close above the 1.9744 (50%fib),scope grows for bigger gains towards 1.7500.
• Technical signals are strongly bullish as RSI is bullish at 51, 5, 9,11 DMAs are trending up.
• Immediate resistance is located at 1.9512(38.2%fib), any close above will push the pair towards 1.7550 (Feb 6th high).
• Immediate support is seen at 1.9744 (50%fib) and break below could take the pair towards 1.9407 (9DMA).
Recommendation: Good buy around 1.9470, with stop loss of 1.9300and target price of 1.9550
