• GBP/AUD dipped on Friday as lingering Inflation-recession angst in UK weighed on pound.
• The British pound is likely to remain under pressure in 2023 owing to inflation-growth angst.
• The pairs falls below 5DMA has increased the growing bearish strength, putting focus on support at 1.7680 (50% fib).
• Technicals are favouring bearish sentiment as RSI is at 39 and the pair is trading below 5,10 & 11-DMAs.
• Immediate resistance is located at 1.7821 (5DMA), any close above will push the pair towards 1.7916(Higher BB)
• Strong support is seen at 1.7680 (50% fib)and break below could take the pair towards 1.7556 (100DMA).
Recommendation: Good to sell around 1.7730, with stop loss of 1.7900 and target price of 1.7650
