• GBP/AUD declined on Thursday as higher oil prices rose and near expectations Australian jobs data boosted Australian dollar .
• The is pair heading towards the lower bollinger band, as near term direction of the pair is likely to be driven by current price action.
• Technical are bearish, daily RSI is negative at 30, daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.8469 (5 DMA ), any close above will push the pair towards 1.8531 (38.2% fib).
• Strong support is seen at 1.8421 (23.6%fib) and break below could take the pair towards 1.8390 (Lower BB).
Recommendation: Good to sell on around 1.8440, with stop loss of 1.8550 and target price of 1.9350
