• GBP/AUD initially gained but gave up ground on Thursday as Fed's Powell hawkish comments weighed on the pair.
• Hawkish remarks from Federal Reserve Chair Jerome Powell offset British policies unveiled by Britain's new prime minister Liz Truss.
• Strong support is at 1.6910 (23.6%fib),a break below will encourage fresh selling and accelerate downtrend.
• Technical signals are bearish as RSI is at 37, daily momentum studies 5, 9 and 10 DMAs are trending south.
• Immediate resistance is located at 1.7066 ( 21DMA), any close above will push the pair towards 1.7118(38.2%fib)
• Strong support is seen at 1.6910 (23.6%fib) and break below could take the pair towards 1.6843 (Lower BB).
Recommendation: Good to sell around 1.7050, with stop loss of 1.7150 and target price of 1.6950
