• GBP/AUD declined on Friday as pound suffered on the back of the BoE's dovish surprise Thursday.
• Bank of England kept rates at 0.1% vs 15 bps hike priced by money markets.
• Bears are in control, bulls need to close above (61.8% fib) 1.8373 to end slow downtrend.
• Technical are bearish, daily RSI is negative at 37, daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.8257(5 DMA ), any close above will push the pair towards 1.8285 (50% fib).
• Strong support is seen at 1.8197(38.2%fib) and break below could take the pair towards 1.8090 (23.6%fib).
Recommendation: Good to sell on around 1.8230, with stop loss of 1.8350 and target price of 1.9160
