• GBP/AUD initially rose on Friday but gave up soime ground as deterioration of U.S.-UK rate differentials and lingering post-Brexit trade uncertainties weighed on Sterling.
• At GMT 19:10, the pair was trading 0.80% lower at 1.8303 , after hiting daily high at 1.8371.
• Technical lean bearish, RSI is turning lower, momentum studies, 5, 10 DMAs falling southwards.
• Immediate resistance is located at 1.8332 ( 38.2%fib), any close above will push the pair towards 1.8441(50%fib).
• Support is seen at 1.8283 (14 DMA) and break below could take the pair towards 1.8202 (23.6%fib).
Recommendation: Good to sell around 1.8310 with stop loss of 1.8400 and target price of 1.8250.
