• GBP/AUD nears session low at 1.8536 after trading 1.8669 earlier. Downtrend is being helped by broad unwinding of short trades.
• The pair is expected to trade lower in the short-term , Psychological level 1.8500 is under attack,close below opens up 1.8460 level.
• Technical lean bearish, RSI is lower at 27, momentum studies, 5, 10 are trending down.
• Immediate resistance is located at 1.8851 (5 DMA ), any close above will push the pair towards 1.8920 (11 DMA).
• Immediate support is seen at 1.8536 (Daily low ) and break below could take the pair towards 1.8460 (Lower BB).
Recommendation: Good to sell below 1.8600, with stop loss of 1.8920 and target price of 1.8460.
