• GBP/ AUD rose sharply on Wednesday as Australia's dollar weakened after data showed China's services activity expanded at the slowest pace.
• The pound recovered Tuesday’s losses against the Aussie dollar , the pair was last up at 0.02% at 1.9088.
• GBP/ AUD focus is on 1.9121( 23.6%fib) resistance, a break above will accelerate for upside
• Technical signals show the pair could gain more ground in the short-term as RSI is bullish at 62,while moving averages are trending higher.
• Immediate resistance is located at 1.9112( 23.6%fib), any close above will push the pair towards 1.9232 (Higher BB).
• Immediate support is seen at 1.8975 (5DMA) and break below could take the pair towards 1.8862 (38.2%fib).
Recommendation: Good to buy around 1.9080, with stop loss of 1.9000 and target price of 1.9150
