• GBP/AUD declined on Wednesday as markets turn towards riskier currencies like Australian dollar after Fed policy statement.
• GBP/AUD fell below 1.8500, support at 1.8468 (50%fib) holding .A close and break below will open the door towards 1.8400 level.
• Technical are bearis, daily RSI is negative at 5, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.8523 (5 DMA ), any close above will push the pair towards 1.8564 (50% fib).
• Strong support is seen at 1.8468 (50%fib) and break below could take the pair towards 1.8375 (61.8%fib).
Recommendation: Good to sell on around 1.8500, with stop loss of 1.8650 and target price of 1.9440
