• GBP /AUD declined on Thursday as Australian dollar was boosted by improved risk appetite.
• Strong metal prices also helped Australian dollar as copper soared over 3%.
• The pair hit daily low at 1.7001 and was last trading at 1.9253.
• Technical signals are bearish as RSI is at 39 daily momentum studies 9, 11 and 21 DMAs are trending down.
• Immediate resistance is located at 1.9253(38.2% fib), any close above will push the pair towards 1.9253(23.6% fib) .
• Immediate support is seen at 1.9126 (50%fib) and break below could take the pair towards 1.9017(61.8%fib).
Recommendation: Good to sell around 1.9210, with stop loss of 1.9300 and target price of 1.9130
