• GBP/AUD eased from daily high on Tuesday as traders focus turned to UK Q1 GDP on Thursday.
•The UK's gross domestic product (GDP) figures may further bolster the confidence of Bank of England (BoE) policymakers in favor of an interest rate cut in August.
• The pair inability to hold gains above 38.2% fib resistence may increases the likelihood of a drop towards1.9000 level.
• Technical are bearish, daily RSI is negative at 45, daily momentum studies 5,8 and 11 DMAs are trending down.
• Immediate resistance is located at 1.9103 (38.2%fib), any close above will push the pair towards 1.9172 (50% fib).
• Strong support is seen 1.9017(23.6%fib) and break below could take the pair towards 1.8987(Lower BB)
Recommendation: Good to sell around 1.9100, with stop loss of 1.9200 and target price of 1.9020
