• GBP/AUD rebounded strongly on Friday as the pair lifted by weaker than expected U.S. jobs data.
•The data heightened concerns that the US economy is slowing faster than expected and that the Federal Reserve may have made a mistake by keeping rates unchanged at its recent policy meeting.
• Next week’s key risks include the RBA meeting and the release of July's global PMIs. Both events are significant for shaping the economic outlook and investor sentiment .
• Immediate resistance is located at 1.9672( 38.2%fib), any close above will push the pair towards 1.9749 ( Jul 25th high).
• Strong support is seen at 1.9541(38.2%fib) and break below could take the pair towards 1.9401(50%fib).
Recommendation: Good to buy around 1.9650, with stop loss of 1.9550 and target price of 1.9730
