• GBP/AUD hits 1.7533 rallying off from 1.7444 (intra-day low), pair is unable to hold further gains as traders keep focus on lower UK rates.
• GBP/AUD remains vulnerable, only a break and daily close above 1.7744 (61.8% fib) will shift bias to the upside.
• Technical are bearish, daily RSI is negative at 37, daily momentum studies 14 and 21 DMAs are trending down.
• Immediate resistance is located at 1.7552 (38.2%fib ), any close above will push the pair towards 1.8519 (9DMA).
• Strong support is seen at 1.7444 (38.2%fib) and break below could take the pair towards 1.7400 (Psychological level).
Recommendation: Good to sell on around 1.7550, with stop loss of 1.7700 and target price of 1.7450
