• 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
