• GBP/AUD declined on Friday as speculation over whether the Bank of England will hike rates at its meeting on Nov. 4 weighed on pound.
• The BoE meeting looms on Thursday, with the market showing about a 50% chance of the MPC kicking off an aggressive rate hiking cycle .
• GBP/AUD fell to its lowest since January 7th.A close below at 1.8182 will expose 1.8100
• Technical are bearish, daily RSI is negative at 26, daily momentum studies 9 and 10 DMAs are trending down.
•Immediate resistance is located at 1.8257 (23.6%fib ), any close above will push the pair towards 1.8288 (5DMA).
•Strong support is seen at 1.8182 (Daily low ), and break below could take the pair towards 1.8139 (Lower BB).
Recommendation: Good to sell on around 1.8200, with stop loss of 1.8260 and target price of 1.8100
