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FxWirePro:GBP/AUD consolidates around 1.7490,out look is bullish

• 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
 

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