• GBP/AUD steadied on Friday as unexpected rise UK Feb retail sales supported pound against weaker Australian dollar.
• Data showed British retail sales rebounded by 1.2% in February versus expectations of a rise of 0.2%.
• Technical signals are bullish as RSI is bullish at 51, daily momentum studies 5 and 11 DMAs are trending down.
• Immediate resistance is located at 1.8401 (23.6% fib), any close above will push the pair towards 1.8490 (Higher BB)
• Immediate support is seen at 1.8366 (5DMA) and break below could take the pair towards 1.8211(38.2%fib).
Recommendation: Good to buy around 1.8360, with stop loss of 1.6250 and target price of 1.8400
