FxWirePro: GBP/AUD caught in narrow range, bias bearish

• GBP/AUD dipped on Thursday as  Brexit fears weigh fuelled a drop.

• GBP/AUD after trading 1.8589 early in Asian session, slipped lower during the US session, it was last trading at 1.8589  (GMT  17:41).

• Technical signals are bearish as RSI is at 27, momentum studies, 5, 10 & 21 daily moving averages trending lower.

• Immediate resistance is located at 1.8583 ( 5 DMA), any close above will push the pair towards 1.8657 (23.6% fib).

• Strong support is seen at 1.8449 (27th May low) and break below could take the pair towards 1.8277 (Lower BB).

Recommendation: Good to sell   around 1.8530 , with stop loss of 1.8650  and target price of 1.8400.