• GBP/AUD dipped on Monday as gains in oil ,equities & copper helped buoy risk sensitive Australian dollar .
• Traders were looking to the Australian consumer price reports this Wednesday, which are expected to show inflation peaking.
• The pairs fall below 9DMA level has increased the growing bearish strength, putting focus on support at 1.7550 (38.2% fib).
• Technicals are favouring bearish sentiment as RSI is at 46 and the pair is trading below 5,10 & 11-DMAs.
• Immediate resistance is located at 1.7645 (9DMA), any close above will push the pair towards 1.7709(50% fib).
• Strong support is seen at 1.7550 (38.2% fib)and break below could take the pair towards 1.7477 (Jan 17th low).
Recommendation: Good to sell around 1.7620, with stop loss of 1.77000 and target price of 1.7520
