• GBP/ AUD declined on Monday as as iron-ore , equity gains & upbeat risk boosted Australian dollar .
• Investors this week will turn their focus towards U.S. inflation data due on Wednesday, followed by ECB rate announcement and press conference on Thursday.
• GBP/ AUD is probing support zone at 1.9494 (50%fib) , Break lower risks run towards 1.9400 in the short term.
• Technical signals show the pair could lose more ground in the short-term as RSI has tuned lower , daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.9527(5DMA), any close above will push the pair towards 1.9585(38.2%fib).
• Immediate support is seen at 1.9429 (50%fib) and break below could take the pair towards 1.9372(Lower BB).
Recommendation: Good to sell around 1.9480, with stop loss of 1.9650 and target price of 1.9380
