• GBP/ AUD rebounded on Friday as weaker Australian dollar benefited bulls, but the gains were limited ahead of weekend.
• On the data front, British retail sales stagnated in February after rising by a revised 3.6% January, figures from the Office for National Statistics showed on Friday.
• GBP/ AUD gains near 38.2%fib,consolidation likely to continue while market seeks fresh factors.
• Immediate resistance is located at 1.9340 (38.2%fib), any close above will push the pair towards 1.9431 (21st March high).
• Support is seen at 1.9244(Lower BB) and break below could take the pair towards 1.9212 (38.2%fib).
Recommendation: Good to buy around 1.9320, with stop loss of 1.9200 and target price of 1.9380
