• GBP/AUD declined on Monday as commodity linked Australian dollar gained ahead Of RBA rate decision .
•Australia's central bank is likely to keep its key interest rate unchanged at 3.85% on Tuesday despite inflation well above the target range.
• A close below support at 1.8744(38.2%fib)will give further momentum to bears, opening the way for a run towards 1.8700 level.
•Technicals are favouring bearish sentiment as RSI is falling and the pair is trading below 5,9 & 21-DMAs.
• Immediate resistance is located at 1.8873 (14DMA), any close above will push the pair towards 1.8955 (38.2%fib).
• Immediate support is seen at 1.8744(38.2%fib) and break below could take the pair towards 1.8656 (May 23rd low).
Recommendation: Good to sell round 1.8790, with stop loss of 1.8900 and target price of 1.8650
