• GBP/AUD recovered some ground on Tuesday after Bank of England Governor Andrew Bailey reiterated that the BoE's stance on interest rates did not need changing.
• The rallied above 1.9100 level, lift stops after finding resistance at 1.9115 (14DMA).
• GBP/AUD remains vulnerable, a daily break and close below e 23.6%fib support will shift bias towards 1.8950.
• Technical are bearish, daily RSI is negative at 48, daily momentum studies 11and 14 DMAs are trending down.
• Immediate resistance is located at 1.9125 (14DMA ), any close above will push the pair towards 1.9194 (38.2%fib).
• Strong support is seen at 1.9026 (23.6%fib) and break below could take the pair towards 1.8928 (Nov 3rd low).
Recommendation: Good to sell around 1.9140, with stop loss of 1.9200 and target price of 1.9050
