• GBP /AUD strengthened on Friday as sterling continued to benefit from ECB accommodation and upbeat US CPI data, shrugging off lower than expected UK GDP data.
• The pair hit daily high at 1.8349 and was last trading at 1.8342 at (GMT 15:37).
• The pairs rise above the 1.7587 has reinforced the growing bullish strength, putting focus on resistance at 1.7740.
• Immediate resistance is located at 1.8395 (Higher BB), any close above will push the pair towards 1.8433(23.6% fib).
• Immediate support is seen at 1.8319 (38.2%fib) and break below could take the pair towards 1.8281 (5DMA).
Recommendation: Good to buy on dips around 1.8330, with stop loss of 1.8220 and target price of 1.8390.
