• GBP/AUD initially gained on Wednesday but gave up most of ground as investors reassess the BoE's degree of hawkishness in light of easing inflation data in Canada and Australia.
• GBP/AUD slides to 1.9115 from 1.9240 Wed high. The pair has seen a 1.9240 -1.9050 range.
• The pair is now on course to register a close below the 38.2 %fib suport level, chart points to bigger drop towards 1.9000. .
• Immediate resistance is located at 1.9140 ( Higher BB), any close above will push the pair towards 1.9233 (23.6 %fib)
• Strong support is seen at 1.9054(38.2 %fib ) and break below could take the pair towards 1.8954 (June 27th ).
Recommendation: Good to sell on rally around 1.9120, with stop loss of 1.9220 and target price of 1.9050.
