• GBP/AUD declined on Friday as higher oil prices and expected 25bps rate hike from RBA on Tuesday boosted Australian dollar.
• Oil prices gained on Friday as investors worried that sluggish global economic activity could crimp fuel demand.
• GBP/AUD eased from 1.9113. The pair has seen a 1.9113 -1.9034 range, on Friday.
•Technical signals are bullish as RSI is up at 62 , daily momentum studies 5, 9 and 11 DMAs are trending north.
• Immediate resistance is located at 1.9200(38.2%fib),any close above will push the pair towards 1.9273(Higher BB ).
• Immediate support is seen at 1.9014(38.2% fib) and break below could take the pair towards 1.8947(5DMA )
Recommendation: Good to buy around 1.9020, with stop loss of 1.8900 and target price of 1.9100
