•GBP/AUD declined on Friday as dovish steer from Bank of England governor Andrew Bailey has sent sterling sharply lower versus Australian dollar.
• The is pair heading towards the 50%fib, as near term direction of the pair is likely to be driven by current price action.
•Technical signals are bearish as RSI is heading down , daily momentum studies 5, 9 and 10DMAs are trending down.
•Immediate resistance is located at 1.8446 (38.2%fib ), any close above will push the pair towards 1.8449(Higher BB).
•Strong support is seen at 1.8369 (50%fib) and break below could take the pair towards 1.8335 (30DMA).
Recommendation: Good to sell on around 1.8400, with stop loss of 1.8480and target price of 1.9320
