• GBP/ AUD recovered some ground on Thursday as the pair was supported by global equity gains on dovish Powell.
• The pair is holding near today's high, but repeated failures to push above 1.7789 is discouraging retreat.
• The pair is set to resume its downtrend, only a break and daily close above 50% fib at 1.7918 will shift bias to the upside.
• Technical signals are bearish as RSI is at 46, 11, 21 DMAs are trending down.
• Immediate resistance is located at 1.7789 (38.2% fib), any close above will push the pair towards 1.7883 (11DMA).
• Immediate support is seen at 1.7685 (Lower BB) and break below could take the pair towards 1.7620(23.6%fib).
Recommendation: Good sell around 1.7740, with stop loss of 1.7920 and target price of 1.7600
