• GBP/ AUD strengthened on Friday after data showed UK economy showed signs of recovery despite inflation's drag.
• The PMI spanning services and manufacturing firms - rose to 53.9 in April from 52.2 in March, putting it further above the 50 line denoting growth for the third consecutive month.
• A close above 1.8598 will add to pair's bullish structure, opening the way for a test of 1.8700 level.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 61,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.8598 (23.6%fib), any close above will push the pair towards 1.8695(Higher BB).
• Immediate support is seen at 1.8547 (14DMA) and break below could take the pair towards 1.8404 (38.2%fib).
Recommendation: Good to buy around 1.8560, with stop loss of 1.8410 and target price of 1.8660
