• GBP/AUD declined on Thursday as Aussie outperformed pound as soring iron prices boosted Australian dollar.
•The most-traded iron ore on China's Dalian Commodity Exchange soared as much as 10.7% to 758 yuan ($117.13) a tonne , its loftiest since Sept. 8.
• GBP/AUD dived below the 23.6% fib and trades down to a 1.8621 low.
• Technical lean bearish, RSI is turning sharply lower, momentum studies, 9, 11 DMAs are trending south.
• Immediate resistance is located at 1.8724 ( 5DMA), any close above will push the pair towards 1.8747(38.2%fib)
•Strong support is seen at 1.8621 (Daily low) and break below could take the pair towards 1.8573 (Lower BB).
Recommendation: Good to sell around 1.8650, with stop loss of 1.8730 and target price of 1.8570.
