• GBP/AUD retreated back towards 1.8350 on Monday as the cross pair failed to break support at 1.8246
• Despite today's GBP/AUD retreat from its lows, GBP/AUD bears remain in control eyes further drop towards 1.8300 .
• Technical are bearish, daily RSI is postive at 52, daily momentum studies 5,9 and 11 DMAs are trending south.
• Immediate resistance is located at 1.8082 (14DMA ), any close above will push the pair towards 1.8396 (Daily high).
• Strong support is seen at 1.8246 (50%fib) and break below could take the pair towards 1.8187 (Lower BB).
Recommendation: Good to sell around 1.8350, with stop loss of 1.8400 and target price of 1.8250.
