• GBP/AUD dipped towards 1.9250 level on Monday as sterling continued weaken against Australian dollar as investors waited for new impetus from UK survey data on Thursday.
• The survey-based purchasing managers' index data, set to be released on Thursday, will provide insight into the UK economy's health in February.
• At GMT 17:06, the pair was trading down 0.10 percent at 1.9257 after reaching daily high at 1.9302 .
• Technical are bearish, daily RSI has turned loweris lower at 49, daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.9389(38.2% fib), any close above will push the pair towards 1.9395(Feb 15th high).
• Strong support is seen at 1.9221 (50% fib) and break below could take the pair towards 1.9166(Lower BB).
Recommendation: Good to sell on around 1.8260, with stop loss of 1.8380 and target price of 1.9190
