• GBP/AUD declined on Friday as Brexit-related news to weighed on British pound.
• At GMT 18:44, the pair was trading down 0.27 percent at 1.7897 after reaching daily high at 1.7991.
• Selling pressure will remain in the short-term, only a significant move above 1.8000 ( 50% fib) strong resistance will shift the bias higher.
• Technical signals are bearish as RSI is heading down at 49, daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.8000 (50%fib), any close above will push the pair towards 1.8087 ( Higher BB).
• Strong support is seen at 1.7883 (38.2% fib ) and break below could take the pair towards 1.7810 (18th March low).
Recommendation: Good to sell around 1.7900, with stop loss of 1.7990 and target price of 1.7800.
