• GBP/AUD declined on Monday as antipodean currency gained as continued progress on curbing the COVID-19 virus boosted risk sentiment.
• Australia on Monday began its mass COVID-19 vaccine programme as the country looked set to report no local cases for the third straight day, which gave the Aussie a boost
• GBP/AUD remains vulnerable, only a break and daily close above 1.7953 (50% fib) will shift bias to the upside.
• Technical are bearish, daily RSI is negative at 46, daily momentum studies 11and 14 DMAs are trending down.
• Immediate resistance is located at 1.7813 (38.2%fib ), any close above will push the pair towards 1.7863 (9DMA).
• Strong support is seen at 1.7708 (Lower BB) and break below could take the pair towards 1.7636 (Lower BB).
Recommendation: Good to sell around 1.7780, with stop loss of 1.7900and target price of 1.7600
