• GBP/AUD declined on Friday as solid US jobs data and recent dovish BoE talk weighed on GBP.
• Recent dovish BoE talk continues to weigh on GBP/USD as traders focus their investments elsewhere, particularly commodity currencies like Australian dollar.
•The pair reaches 1.7440 after extending south from 1.7582 (Daily high). The pair was last trading at .1.7469.
• Technical signals show the pair could lose more ground in the short-term as RSI is trending down at 30 lower, daily momentum studies 9, 11 and 21 DMAs are trending down.
• Immediate resistance is located at 1.7586 (38.2%fib),any close above will push the pair towards 1.7707(50%fib ).
• Immediate support is seen at 1.7422 (23.6%fib) and break below could take the pair towards 1.7302 (Lower BB ).
Recommendation: Good to sell below 1.7570, with stop loss of 1.7670 and target price of 1.7500
