• GBP/AUD gained on Friday as expectations of faster BOE rate hike path and weaker Australian dollar boosted the pair.
• BoE has been sending hawkish signals, most recently at Thursday's rate announcement after the bank lifted rates 25bps, with 4 votes for a 50bps move.
• Bulls have tightened their grip after registering a close above the 1.9051 (38.2%fib),scope grows for bigger gains towards 1.9200.
• Technical signals are strongly bullish as RSI is bullish at 65, 5, 9,11 DMAs are trending up.
• Immediate resistance is located at 1.9120(Higher BB), any close above will push the pair towards 1.9181(23.6%fib).
• Immediate support is seen at 1.9048(5DMA) and break below could take the pair towards 1.9012 (5DMA).
Recommendation: Good buy around 1.9100, with stop loss of 1.9000 and target price of 1.9200
