• GBP/ AUD steadied on Friday after Britain's construction sector displayed indications that it potentially endured the worst phase of a decline.
• The S&P Global/CIPS UK construction Purchasing Managers' Index (PMI) rose to 46.8 from November's 45.5 but remained below the 50.0 growth threshold for a fourth month in a row.
• The pair currently is approaching resistance at 38.2%fib. A break above would unmask 1.9000 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is rising,while moving averages 5,9 DMA’s are trending higher.
• Immediate resistance is located at 1.8976( 38.2%fib), any close above will push the pair towards 1.9070( 23.6%fib).
• Immediate support is seen at 1.8904(50%fib) and break below could take the pair towards 1.8825 (61.8%fib).
Recommendation: Good to buy around 1.8930, with stop loss of 1.8800 and target price of 1.9000
