• GBP/AUD has formed a double top around 1.7650 and started to decline from the high. The pair broken the major support of 100 – H EMA at 1.7515 and hits the low of 1.7445 slightly below trend line support. It is currently trading around 1.74530.
   
• GBP trading weak against all major pairs yesterday after BOE leaves interest rates unchanged and trims growth outlook.
   
• In the hourly chart the pair is trading well below short and long term MA and near term major support is around 200 H MA at 1.7435. Any close below will drag the pair further down till 1.73490 (50% retracement of 1.70669 and 1.7650)/1.7300.
   
• On the higher side, minor resistance is around 1.7515 and any break above will take the pair till 1.7560 (61.8% retracement of 1.76337 and 1.74330)/1.7600. Bullish continuation can be seen only above 1.76500.
  
  It is good to sell on rallies around 1.75000 with SL around 1.7560 for the TP of 1.74350/1.7380.