• GBP/ AUD strengthened on Friday as the improving Investor sentiment and stronger UK GDP data boosted sterling.
• Investor sentiment was buoyed globally by increased bets of an interest rate cut by the Fed in September, after data showed a surprise drop in U.S. consumer prices for June on Thursday.
• UK's consumer prices figures are due next week, which will be in the spotlight, against the backdrop of a new government and as the Bank of England's August meeting inches closer.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 56,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.9152( 38.2%fib), any close above will push the pair towards 1.9205 (23.6%fib).
• Immediate support is seen at 1.9108 (50%fib) and break below could take the pair towards 1.9063(61.8%fib).
Recommendation: Good to buy around 1.9130, with stop loss of 1.9050, and target price of 1.9200
