• GBP/AUD declined on Thursday as traders awaited speech by Federal Reserve Chair Jerome Powell, the week's most anticipated event.
•The pair failed to breach a key 38.2% fib support at 1.9884 and recovered towards 1.8915.
• Selling pressure will remain in the short-term, only a move above 1.8970 ( 38.2 % fib)strong resistance will shift the bias higher.
• Immediate resistance is located at 1.8931( 5DMA), any close above will push the pair towards 1.8970 ( 38.2 % fib).
•Strong support is seen at 1.9884 (50% fib ) and break below could take the pair towards 1.8800 (61.8% fib).
Recommendation: Good to sell around 1.9820 with stop loss of 1.9920 and target price of 1.9760.
