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FxWirePro:GBP/AUD longs maintain the advantage after better than expected UK services PMI data

• GBP/ AUD rose sharply on Thursday after  better-than-expected  UK PMI data depicted a more robust economic scenario than initially anticipated .

• The final S&P Global/CIPS UK Services Purchasing Managers' Index (PMI) rose to 53.4 in December, showing the sector grew more strongly in December than an initial reading of 52.7 and November's 50.9.

 • At GMT 19:32, the pair was trading up 0.59 percent  at 1.8919 after reaching daily high at 1.8934

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

• Immediate resistance is located at 1.8964 (38.2%fib), any close above will push the pair towards 1.9046 (23.6%fib).

• Immediate support is seen at 1.8894 (50%fib) and break below could take the pair towards 1.8824 (61.8%fib).

Recommendation: Good to buy around 1.8910, with stop loss of 1.8840 and target price of 1.8970

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