• GBP/AUD eased on Monday as Australian dollar gained traction against pound as antipodean currency was supported by higher iron ore prices .
• Iron ore futures surged to near two-week highs on Monday, fueled by optimism for measures to support the weak steel industry in top consumer market China .
• Technical lean bearish, RSI is turning sharply lower at 37, momentum studies, 5, 10 DMAs falling southwards.
• Immediate resistance is located at 1.9229( Daily high), any close above will push the pair towards 1.9273 (38.%fib).
• Support is seen at 1.9145(50%fib) and break below could take the pair towards 1.9000 (Psychological level).
Recommendation: Good to sell around 1.9180, with stop loss of 1.9250 and target price of 1.9120
