FxWirePro: GBP/AUD bears undeterred, focus on 1.8900 level

• GBP/AUD extended its yesterday’s drop as lack of information about lifting the lockdown in UK weighed on British pound.

• Selling pressure will remain in the short-term, only a move above 1.9182 ( 23.6% fib) strong resistance  would indicate the weakness in the pair has run out.

• From a technical viewpoint, the moving averages are pointing downwards, while the RSI  is strongly bearish at 27.

• On the upside, Immediate resistance is located at 1.9182 ( 23.6% fib), any close above will push the pair towards 1.9224( 5 DMA).

• On the downside, immediate support is seen at 1.9000 (Psychological level ) and break below could take the pair towards 1.8919 (Lower BB).