• GBP/AUD declined on Wednesday as the prospect of a Democrat-controlled U.S. Senate drove capital flows into riskier currencies like Australian dollar
• GBP/AUD plumbed fresh trend lows and a close below 103 would likely increase further bearish momentum .
• GBP/AUD chart bias remains on the downside, reinforcing the bearish market.
• Immediate resistance is located at 1.7496 (38.2%fib ), any close above will push the pair towards 1.7534 (50% fib).
• Strong support is seen at 1.7429 (23.6%fib) and break below could take the pair towards 1.7400 (Psychological level).
Recommendation: Good to sell on around 1.7500, with stop loss of 1.7600 and target price of 1.7400
