• GBP/AUD recovered some ground from initial decline on Monday as market was reluctance to add to positions ahead Reserve Bank of Australia policy decision.
• Market opinions are divided on whether or not the RBA will delay its taper.
• GBP/AUD recovers towards 1.8600 and holds near the day's high in late US session.
• Technical signals are trending down as RSI is lower at 36, moving averages are pointing southwards.
• Immediate resistance is located at 1.8629 ( 5DMA), any close above will push the pair towards 1.8671( 38.2% fib).
• Immediate support is seen at 1.8528 (23.6%fib) and break below could take the pair towards 1.8469(Lower BB).
Recommendation: Good to sell around 1.8650, with stop loss of 1.8750 and target price of 1.8550.
