• GBP/AUD declined on Thursday as surprisingly strong China exports data lifted Australian dollar against pound.
• Exports from the world's second-biggest economy in the two months were 7.1% higher than a year before, customs data showed on Thursday, beating poll that expected an increase of 1.9%.
• A close below 50% fib support, would add to sterling's bearish structure, opening the way towards 1.9250 level .
• Technical signals show the pair could lose more ground in the short-term as RSI is lower at 48, daily momentum studies 9, 11 and 21 DMAs are trending down.
• Immediate resistance is located at 1.9419 (38.2% fib),any close above will push the pair towards 1.9520 (Higher BB).
• Immediate support is seen at 1.9278(50% fib) and break below could take the pair towards 1.9202(61.8% fib)
Recommendation: Good to sell below 1.9350 , with stop loss of 1.9450 and target price of 1.9260
