• GBP/AUD declined on Monday as investors weighed up the impact of the European Union’s threat to impose a ban on vaccine imports to Britain.
• GBP/AUD last traded at 1.7312, down 0.07% on the day, after briefly falling to 1.7848 earlier.
• Technical signals are bearish as RSI is at 48, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.7930 (9 DMA ), any close above will push the pair towards 1.7985(50% fib).
• Immediate support is seen at 1.7851(38.2%fib ) and break below could take the pair towards 1.7766(Lower BB).
Recommendation: Good to sell around 1.7880, with stop loss of 1.8000 and target price of 1.7800.
