FxWirePro :GBP/AUD threatens 50% fib after fall below 1.9100 handle

• GBP/AUD dipped on Thursday  as  growing fears of recession   in UK undermined risk sentiment.

• Investors attention shifts to next week BoE meeting , investors are looking ahead to policy decisions from   the Bank of England. 

•The pair inability to hold gains above 1.9485 (5DMA), may increases the likelihood of a drop towards1.9150 level.

• 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 1.8125 (5DMA), any close above will push the pair towards 1.8291(38.2%fib).

• Strong support is seen at 1.8044 (50% fib)and break below could take the pair towards 1.7994 (9DMA).

Recommendation: Good to sell  around 1.8070, with stop loss of 1.8190 and target price of  1.7990