• GBP/AUD gained on Friday as GBP benefited from strongly weaker commodity linked Australian dollar.
• Key commodities are under pressure -with Dalian iron ore and oil price easing.
• Technical are favouring bullish sentiment as RSI is at 56 and the pair is trading above 11 & 21-DMAs.
• Immediate resistance is located at 1.8790 (23.6%fib ), any close above will push the pair towards 1.8929 (may 4th High).
• Strong support is seen at 1.8651 (5DMA) and break below could take the pair towards 1.8495 (38.2%fib).
Recommendation: Good to buy around 1.8700, with stop loss of 1.8600 and target price of 1.8780
