• GBP/AUD recovered some ground on Monday as gradual easing of coronavirus lockdown supported some buying interest.
• The rallied above 1.9000 psychological level,lift stops short of key 1.9128 (5 DMA )resistance zone though.
• GBP/AUD remains vulnerable, only a break and daily close above 38.6% fib at 1.9449 will shift bias to the upside.
• Techicals are mixed, daily RSI is turning up, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.9129 (9 DMA ), any close above will push the pair towards 1.9198 (23.6% fib).
• Strong support is seen at 1.8888 (Lower BB) and break below could take the pair towards 1.8800 (Psychological level).
Recommendation: Good to sell on around 1.9150, with stop loss of 1.9480 and target price of 1.8900
