• GBP/AUD ascended towards 1.9245 on Friday as buying demand continued near 1.9180 level.
• A daily close above 1.9260 (38.2%fib) will further improve the technical outlook, and open the possibility of a rally towards 1.9300 level.
• Technical signals are bullish as RSI is at 53, daily momentum studies 5,9,21 DMA are trending north.
• Immediate resistance is located at 1.9260 (38.2%fib), any close above will push the pair towards 1.9332 (Oct 13th High).
• Strong support is seen at 1.9185 (11DMA) and break below could take the pair towards 1.9130(50%fib).
Recommendation: Good to buy around 1.9220 with stop loss of 1.9120 and target price of 1.9300
