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FxWirePro:GBP/AUD consolidating around1.9088,bias is bullish

• GBP/ AUD rose sharply on  Wednesday as Australia's dollar weakened   after data showed China's services activity expanded at the slowest pace.

• The  pound recovered Tuesday’s losses  against the Aussie dollar , the pair was last up  at 0.02% at  1.9088.

•  GBP/ AUD focus is on 1.9121( 23.6%fib) resistance, a break above will accelerate for upside

• Technical signals show the pair could gain more ground in the short-term as RSI is bullish at 62,while moving averages are trending higher.

• Immediate resistance is located at 1.9112( 23.6%fib), any close above will push the pair towards 1.9232 (Higher BB).

• Immediate support is seen at 1.8975 (5DMA) and break below could take the pair towards 1.8862 (38.2%fib).

Recommendation: Good to buy around 1.9080, with stop loss of 1.9000 and target price of 1.9150

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