• GBP/ AUD initially gained on Thursday but gave up ground as sellers took back control.
• GBP/ AUD was last up 0.08% at 1.9143 at 18:15 GMT, after hitting daily high at 1.9143.
• Bear are on course to force a daily close under the 38.2%fib,that would open the pathway to much bigger losses towards 1.8950 level.
• Technical signals show the pair could lose more ground in the short-term as RSI is at 34,while moving averages and MACD are trending lower.
• Immediate resistance is located at 1.9189(5DMA), any close above will push the pair towards 1.9296(50%fib).
• Immediate support is seen at 1.9095(38.2%fib) and break below could take the pair towards 1.8935(July 26th low).
Recommendation: Good to sell around 1.9150, with stop loss of 1.9250 and target price of 1.9080
