• GBP/AUD strengthened on Friday as Australian dollar was weighed down by iron ore and oil price slump.
• Oil prices dipped about 5% . Dalian closed down by 5.9%, iron ore is Australia's biggest export earner.
• At GMT 18:27, the pair was trading up 0.57 percent at 1.7620.
• Technical signals are bullish as RSI is higher at 54, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.7638 ( 38.2%fib), any close above will push the pair towards 1.7774 (23.6%fib).
• Strong support is seen at 1.7506 (50%fib ) and break below could take the pair towards 1.7474 (11DMA).
Recommendation: Good to buy around 1.7620, with stop loss of 1.7540 and target price of 1.7700.
