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FxWirePro:GBP/AUD attracts selling interest, could be on verge of a bigger drop

• GBP/AUD declined on Monday   as the pair attracted seller  ahead of a slew of US, UK data followed by Fed, ECB and BoJ meetings later in the week.

• Tuesday marks a heavy data day with UK employment and U.S. and German CPI data.

• The is pair heading towards the   38.2% fib suppport, as near term direction of the pair is likely to be driven by current price action.  

• Immediate resistance is located at 1.8635 (5DMA ), any close above will push the pair towards 1.8815 (23.6% fib).

• Strong support is seen at 1.8493 (38.2% fib) and break below could take the pair towards 1.8419 (Lower BB).

Recommendation: Good to sell on  around 1.8530, with stop loss of 1.8600 and target price of 1.8440
 

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