• GBP/ AUD strengthened on Thursday after data showed UK economy grew faster than expected in June.
• Britain's economy grew by a faster-than expected 1.0% in June, boosted by the huge services sector, economists pointed to a monthly growth of 0.8%.
• The pair currently is approaching resistance at 1.8865( 38.2%fib). A break above 1.8865 would unmask 1.8900 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 60,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.8865( 38.2%fib), any close above will push the pair towards 1.8923(Aug 10th High).
• Immediate support is seen at 1.8781 (50%fib) and break below could take the pair towards 1.8756(21DMA).
Recommendation: Good to buy around 1.8810, with stop loss of 1.8700 and target price of 1.8890
