FxWirePro:GBP/AUD chart bearish, looks on course for 1.7800

• 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.