• GBP/AUD initially gained on Tuesday but gave up ground as sterling attracted sellers ahead of the Bank of England's expected 10th consecutive interest rate hike.
• The Bank of England (BoE) is expected to raise its interest rates by half a percentage point to 4% on Thursday in a week packed with central bank decisions
• At GMT 17:36, the pair was trading 0.01% lower at 1.7486, after hitting daily high at 1.7633
• Technical signals are bearish as RSI is at 40, daily momentum studies 5,9,21 DMA are trending south.
• Immediate resistance is located at 1.7557(38.2%fib), any close above will push the pair towards 1.7633 (Daily high).
• Strong support is seen at 1.7414(23.6%fib) and break below could take the pair towards 1.7343 (Lower BB).
Recommendation: Good to sell around 1.7490 with stop loss of 1.7600 and target price of 1.7400
