• GBP/AUD declined on Thursday as diminishing possibility of a more aggressive rate hike by the BoE hit pound.
• The is pair heading towards the 61.8% fib support, as near term direction of the pair is likely to be driven by current price action.
• Technical are bearish, daily RSI is negative at 37, daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.9371 (5DMA ), any close above will push the pair towards 1.9454 (50% fib).
• Strong support is seen at 1.9232 (61.8% fib) and break below could take the pair towards 1.9194 (Lower BB).
Recommendation: Good to sell on around 1.9280, with stop loss of 1.9380 and target price of 1.9180
