• GBP/AUD declined on Friday as higher commodities prices and upbeat risk sentiment boosted Australian dollar against pound.
• Oil prices jumped after health authorities in top global crude importer China eased some of the country's heavy COVID-19 curbs.
• The is pair heading towards 50% fib support, as near term direction of the pair is likely to be driven by current price action.
• Technical are bearish, daily RSI is negative at 47, daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.7691 (5 DMA ), any close above will push the pair towards 1.7824 (38.2% fib).
• Strong support is seen at 1.7547 (50% fib) and break below could take the pair towards 1.7485 (Lower BB).
Recommendation: Good to sell on around 1.7630, with stop loss of 1.7700 and target price of 1.7540
