FxWirePro: GBP/AUD drifts lower,could be on verge of a bigger drop

• GBP /AUD declined on Friday  as increased risk appetite  and higher commodities prices  added to the AUD's shine.

•Australian dollar is strengthened   as key drivers of the pair  iron ore, oil equities are moved higher.

•The pair is approaching 23.6%fib support,a daily close below   will accelerate towards 1.6850 level in the short term.

• Immediate resistance is located at 1.6989( 11DMA), any close above will push the pair towards 1.7118 ( 38.2%fib).

• Strong support is seen at 1.6898 (23.6%fib) and break below could take the pair towards 1.6817 (Lower BB).

Recommendation: Good to sell around 1.6920, with stop loss of 1.7050 and target price of 1.6850 .