• GBP/AUD dipped on Wednesday as Australian dollar was lifted higher by uptrend in copper prices and upbeat Caixin services PMI.
• China's services activity growth accelerated in March as new business rose at the quickest pace in three months, a private-sector survey showed on Wednesday.
• The Caixin/S&P Global services purchasing managers' index (PMI) edged up to 52.7 from 52.5 in February, above the 50-mark that separates expansion from contraction for the 15th consecutive month.
• Technicals are favouring bearish sentiment as RSI is at 43 with the 5, 10 & 21-day MAs in a bearish alignment.
• Immediate resistance is located at 1.9322(9EMA), any close above will push the pair towards 1.9400(23.6%fib)
• Strong support is seen at 1.9240 (38.2% fib)and break below could take the pair towards 1.9202(Lower BB).
Recommendation: Good to sell around 1.9260, with stop loss of 1.9380 and target price of 1.9200
