• GBP/AUD strengthened on Monday as traders clung to hopes that Britain and the European Union would soon seal a long-awaited Brexit trade deal.
• GBP/AUD hits 1.3362 after rallying off from 1.3305 (intra-day low), lift stops after finding resistance at 1.8863 (23.6% fib).
• GBP/AUD remains vulnerable, only a break and daily close above 1.8250 (61.8% fib) will shift bias to the upside.
• Technical are bearish, daily RSI is negative at 49, daily momentum studies 14 and 21 DMAs are trending down.
• Immediate resistance is located at 1.8174 (50%fib ), any close above will push the pair towards 1.8210 (30DMA).
• Strong support is seen at 1.8093 (38.2%fib) and break below could take the pair towards 1.7986(23.6%fib).
Recommendation: Good to sell on around 1.8180, with stop loss of 1.8250 and target price of 1.8100
