• GBP/AUD dipped on Monday after a survey showed Britain's private sector growing at its slowest pace in six months in July.
•The preliminary reading of the UK S&P Global Purchasing Managers' Index (PMI) for the services sector sank to its lowest since the pandemic lockdown of January 2021
• British retail data showed consumer spending partially recovered in August after a rain-soaked July - growing 0.4% month-to-month - but narrowly missed economist forecasts.
• Technicals are favouring bearish sentiment as RSI is at 32 and the pair is trading below 5,10 & 11-DMAs.
• Immediate resistance is located at 1.9047 (5DMA), any close above will push the pair towards 1.9144(38.2%fib)
• Strong support is seen at 1.8979 (38.2% fib)and break below could take the pair towards 1.8933 (Lower BB).
Recommendation: Good to sell around 1.9010, with stop loss of 1.9150 and target price of 1.8920
