• GBP/AUD dipped on Friday as UK recession fears and Brexit concerns weighed on the pound.
• Inability to resolve post-Brexit tensions over the Northern Ireland protocol is also adding as additional irritant to sterling sentiment.
• Data on Thursday showed Britain's economy unexpectedly shrank 0.1% in March ,that has exacerbated concerns about a weakening UK growth outlook.
• GBP/AUD technical outlook is bearish in short-term as RSI has turned lower, moving averages are mixed.
• Immediate resistance is located at 1.7713 (5DMA ), any close above will push the pair towards 1.7807(23.6% fib).
• Strong support is seen at 1.7612 (38.2% fib) and break below could take the pair towards 1.7552 (Ichimoku Cloud base).
Recommendation: Good to sell around 1.7650, with stop loss of 1.7800 and target price of 1.7430.
