• GBP/AUD declined on Thursday as sterling was negatively impacted by dovish ECB statement and upbeat US data.
• The European Central Bank followed the Fed on Thursday with a 25 basis point hike .
• A daily close below 50%fib support will open the possibility of a drop towards 1.8950 level.
• Technical signals are bearish as RSI is at 37, daily momentum studies 5, 9 and 10 DMAs are trending south.
• Immediate resistance is located at 1.9127(38.2%fib), any close above will push the pair towards 1.9184(Jul 26th high)
• Strong support is seen at 1.9013 (50%fib) and break below could take the pair towards 1.8937(Lower BB).
Recommendation: Good to sell around 1.9070, with stop loss of 1.9180 and target price of 1.9000
