• GBP/AUD declined on Thursday as sterling was weighed down as Brexit talks turned sour.
• The British currency has been jittery on Brexit headlines, dropping in response to news suggesting a deal is unlikely
• The is pair heading down to test 23.6%fib at 1.7606, as the UK news turns more negative.
• Technical signals are bearish as RSI is at 31, daily momentum studies 5, 9 and 10 DMAs are trending down.
• On the upside, immediate resistance is located at 1.7724 (38.2%fib ), any close above will push the pair towards 1.7824 (50%fib).
• On the downside, immediate support is seen at 1.7606(23.6%fib) and break below could take the pair towards 1.7494 (11 Sep low).
Recommendation: Good to sell around 1.7650, with stop loss of 1.7750and target price of 1.7560.
