• GBP/AUD gained on Thursday after the Bank of England raised interest rates for the 12th consecutive time .
•The BoE raised rates by a quarter of a percentage point to 4.5%, taking borrowing costs to their highest level since 2008,
• Selling pressure will remain in the short-term, only a move above 1.8872 ( 23.6 % fib) strong resistance will shift bias higher.
• technical are mixed, the moving averages are pointing downwards, while the RSI is trending up
• Immediate resistance is located at 1.8746 ( 11DMA), any close above will push the pair towards 1.8847 ( 23.6 % fib).
• Strong support is seen at 1.8585 (38.2% fib ) and break below could take the pair towards 1.8528 (Apr 12th low).
Recommendation: Good to sell around 1.8680, with stop loss of 1.8780 and target price of 1.8600
