• GBP/ AUD strengthened on Friday after Bank of England message after a policy meeting on Thursday was slightly hawkish.
• Gains were also attributed to the Bank of England on Thursday setting out plans for how it would tighten monetary policy.
• The pair currently is approaching resistance at 1.8869( 38.2%fib). A break above 1.8869 would unmask 1.8977 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 65,while moving averages and MACD are trending higher.
• Immediate resistance is located at 1.8869( 38.2%fib), any close above will push the pair towards 1.8869 (23.6%fib).
• Immediate support is seen at 1.8828 (5DMA) and break below could take the pair towards 1.8784 (50%fib).
Recommendation: Good to buy around 1.8840, with stop loss of 1.8700 and target price of 1.8950
