• GBP/AUD declined on Wednesday as GBP was weighed down after Britain and the European Union failed to agree on solutions to post-Brexit trade problems in Northern Ireland.
• At GMT 19:51, the pair was trading down 0.08 percent at 1.8258 after reaching daily low at 1.8222.
• Bearish momentum is likely to pick up with a move below 50%fib, which would target support at the at 1.8198(26th May low) and then 61.8% fib at 1.8151.
• Immediate resistance is located at 1.8300(5DMA ), any close above will push the pair towards 1.8335 (38.2%fib).
•Immediate support is seen at 1.8243 (50%fib ) and break below could take the pair towards 1.8151 (61.8% fib).
Recommendation: Good to sell around 1.8270, with stop loss of 1.8390 and target price of 1.8200.
