• GBP/AUD recovered some ground on Friday as the pair was aided by profit-taking on shorts.
• The rallied above 1.8000 Psychological level, lift stops after finding resistance at 1.8031 (38.2%fib ).
• GBP/AUD remains vulnerable, only a break and daily close above 1.8078 (9DMA) will shift bias to the upside.
• Technical are bearish, daily RSI is negative at 48, daily momentum studies 11and 14 DMAs are trending down.
• Immediate resistance is located at 1.8031 (38.2%fib ), any close above will push the pair towards 1.8078 (9DMA).
• Strong support is seen at 1.7926(Daily low) and break below could take the pair towards 1.7902 (Ichimoku Cloud Top).
Recommendation: Good to sell around 1.7990, with stop loss of 1.8100 and target price of 1.7900
