FxWirePro:GBP/AUD attracts selling interest, vulnerable to more downside

• GBP/AUD declined on Monday  as sterling attracted sellers  as traders braced for the UK government's fiscal statement on Thursday.

• The market also  looked   ahead to unemployment and wage data on Tuesday, consumer price data on Wednesday and October retail sales data due on Friday for a read on the state of the UK economy.

•The pair extended its drop to hit 1.7487, daily low, it was last down 0.83% in US session.

• Immediate resistance is located at 1.7643 (50%fib ), any close above will push the pair towards 1.7695 (9DMA).

• Immediate support is seen at 1.7467 (38.2%fib ), break below could take the pair towards 1.7242 (23.6%fib).

Recommendation: Good to sell around 1.7500 with stop loss of 1.7600 and target price of 1.7355