• GBP/ AUD strengthened on Tuesday as disappointing set of Chinese trade figures hurt Australian dollar.
• Data on Tuesday showed China's imports and exports fell much faster than expected in July with imports down 12.4% from a year earlier while exports contracted by 14.5.
• Bulls are likely to mount a credible run towards 1.9600 level. At GMT 17:36 the pair was last trading at 1.9506 up 0.33 percent.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 58,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.9570( Higher BB), any close above will push the pair towards 1.9687(23.6%fib).
• Immediate support is seen at 1.9453( 38.2%fib) and break below could take the pair towards 1.9328 (5DMA).
Recommendation: Good to buy around 1.9490, with stop loss of 1.9370 and target price of 1.9590
