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• GBP/AUD declined on Tuesday as Australian dollar rose against pound as risk appetite picked up as China ended quarantine rules.
• GBP/AUD dipped 0.48 % to 1.7840 in mostly thin trading during the year-end holiday season.
• Technical signals are bearish as RSI is heading down at 44 , daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.7957 (5DMA ), any close above will push the pair towards 1.8147 (23.6%fib).
• Strong support is seen at 1.7826 (38.2%fib) and break below could take the pair towards 1.7754 (Lower BB).
Recommendation: Good to sell on around 1.7840 with stop loss of 1.7940 and target price of 1.7750
