• GBP/AUD initially gained on Monday but slipped towards 1.8000 as disparate vaccine rollouts and benign Brexit views soured bullish sentiment .
• The pair reaches daily low 1.8018 from 1.8120 (Daily high). 1.8018 is the lowest level since March 25th.
• Underlying trend for the pair remains bearish. A break below 1.7953(38.2% fib) might spur increased downward momentum..
• Immediate resistance is located at 1.8097 (Higher BB ), any close above will push the pair towards 1.8150 (23.6%fib).
• Strong support is seen at 1.7959 (38.2%fib) and break below could take the pair towards 1.7930(30DMA).
Recommendation: Good to sell on around 1.8050, with stop loss of 1.8150 and target price of 1.7950.
