• GBP/ AUD strengthened on Friday as GBP was boosted by upbeat UK Feb services PMI.
• The final version of the S&P Global/CIPS UK services Purchasing Managers' Index (PMI) increased to 53.5 last month, up from 48.7 in January, the strongest rate of growth since June last year.
• The pair currently is approaching resistance at 38.2%fib. A break above would unmask 1.7900 level in the short term.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 58,while moving averages are trending higher.
• Immediate resistance is located at 1.7824 (38.2%fib), any close above will push the pair towards 1.7956(23.6%fib).
• Immediate support is seen at 1.7710(50%fib) and break below could take the pair towards 1.7644 (14DMA).
Recommendation: Good to buy around 1.7770, with stop loss of 1.6950 and target price of 1.7880
