• GBP/AUD eased from 1.9645 level on Tuesday as higher commodity prices boosted Australian dollar.
• The pair pulled back after failing to break resistance at 1.9601(5DMA) , it was last trading down 0.30 percent at 1.9524.
• Technical signals are bearish as RSI at 49, daily momentum studies 5, 9 and 11 DMA’s are trending down.
• Immediate resistance is located at 1.9601(5DMA), any close above will push the pair towards 1.9645( 5DMA).
• Immediate support is seen at 1.9516(50% fib) and break below could take the pair towards 1.9436(61.8% fib).
Recommendation: Good to sell around 1.9530, with stop loss of 1.9650 and target price of 1.9450
