• GBP/AUD dipped on Tuesday as Australian dollar benefited from the recent rise in energy prices and some signs China's economy is stabilizing..
• Gains in gains Equity , iron-ore also helped drive Australian dollar higher against pound
• GBP/AUD has pierced the 50% fib support and for now the recent down trend is intact
• Technical are bearish, daily RSI is negative at 37, daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.9233 (50% fib ), any close above will push the pair towards 1.9272 (5DMA).
• Strong support is seen at 1.9169(Daily low) and break below could take the pair towards 1.9122 (Lower BB).
Recommendation: Good to sell on around 1.9210, with stop loss of 1.9300 and target price of 1.9150
