• GBP/AUD declined on Thursday after data showed U.S. inflation continued to moderate in October.
• Inflation as measured by the personal consumption expenditures (PCE) price index was unchanged in October after climbing 0.4% in September.
• The pair dropped below 11DMA. A break under 23.6% fib support would unmask 1.9000 level .
• Technical signals show bearish momentum , the 5 DMA and 9 DMAs trend south, while RSI is heading south at 48.
•Immediate resistance is located at 1.9114(11DMA ) , any close above will push the pair towards 1.9171 (38.2% fib).
• Immediate support is seen at 1.9054 (23.6% fib ) and break below could take the pair towards 1.9000 (Psychological level ).
Recommendation: Good to around 1.9120, with stop loss of 1.9200 and target price of 1.9050
