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FxWirePro: GBP/AUD drops below 1.7600 level, heads deeper into bear territory

• GBP/AUD fell across the board on Tuesday, as new lockdown weighed on sterling. • As COVID-19 cases surge across UK, nationwide lockdowns have been announced in Britain as new lockdown measures . • At GMT 18:34, the pai…

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FxWirePro: GBP/AUD drops below 1.7600 level, heads deeper into bear territory
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• GBP/AUD fell across the board on Tuesday,  as new lockdown weighed on sterling.

• As COVID-19 cases surge across UK, nationwide lockdowns have been announced in Britain  as new lockdown measures .

• At GMT 18:34, the pair was trading down 0.89 percent   at 1.7537.

•   Technical signals are bearish as RSI is at 32, momentum studies, 5, 10 & 21 daily moving averages trending lower.

• Immediate resistance is located at 1.7600 (Psychological level), any close above will push the pair towards 1.7726 (10DMA).

• Strong support is seen at 1.7663 (23.6%fib) and break below could take the pair towards 1.7455 (Lower BB).

Recommendation: Good to sell   around 1.7535 , with stop loss of 1.7650  and target price of 1.7450.

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