FxWirePro:GBP/AUD drops to threaten 1.8300 after Bank of England keeps stimulus unchanged

• GBP/AUD declined on Thursday after Bank of England kept its stimulus unchanged and  left its benchmark interest rate at an all-time low of 0.1%.

• The MPC voted 9-0 votes in favor of leaving the key rate unchanged and leaving its corporate bonds worth £ 20 billion unchanged.

• At GMT 14:35, the pair was trading down 0.41 percent  at 1.8346 after reaching daily low at 1.8330.

• The is pair heading towards the 50%fib support, as near term direction of the pair is likely to be driven by current price action.  

• Technical are bearish, daily RSI has sharply turned down, daily momentum studies  5 and 10 DMAs are trending down. 

• Immediate resistance is located at 1.8394 (9 DMA ), any close above will push the pair towards 1.8412  (38.2% fib).

• Strong support is seen at 1.8319 (38.2%fib) and break below could take the pair towards 1.8228 (61.8%fib).

Recommendation: Good to sell on  around 1.8370, with stop loss of 1.8500 and target price of 1.8260