• GBP/AUD dipped on Monday as Fed slowdown bets encouraged investors to seek out riskier assets.
•At GMT 17:32, the pair was trading down 0.05 percent at 1.7571.
• GBP/AUD drops below the 5DMA, slide halts at the 1.7515 (38.2% fib),break below will accelerate towards 1.7400 level.
• Technicals are favouring bearish sentiment as RSI is at 36 and the pair is trading below 5,10 & 11-DMAs.
• Immediate resistance is located at 1.7649 (5DMA), any close above will push the pair towards 1.7909(14DMA)
• Strong support is seen at 1.7515 (38.2% fib)and break below could take the pair towards 1.7412 (Lower BB).
Recommendation: Good to sell around 1.7580, with stop loss of 1.7720 and target price of 1.7500
