• GBP/ AUD strengthened on Friday as upbeat UK retail sales data lifted the pair.
• After December's steep fall, retail sales picked up in January, monthly sales volume rose 0.5% in January versus poll -0.3%.
• The pair currently is approaching resistance at 38.2%fib. A break above 38.2%fib will unmask 1.7600 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 51,while moving averages are trending higher.
• Immediate resistance is located at 1.7519( 38.2%fib), any close above will push the pair towards 1.7601(Higher BB).
• Immediate support is seen at 1.7431 (5DMA) and break below could take the pair towards 1.7395(50%fib).
Recommendation: Good to buy around 1.7480, with stop loss of 1.74000 and target price of 1.7540
