FxWirePro:GBP/AUD neutral in the near-term, scope for downward resumption

• GBP/AUD enjoyed some respite on Tuesday, as  upbeat economic growth data lifted British pound.

• The pair fell to a low of $1.9209 in European trading and was last down 0.17% on the day at $1.19281 at GMT 17:25.

• Major support is at 1.9200 (Trendline), a breach could potentially lead to further rapid decline as the next support is not until 1.9088 (50DMA) 

•Strong resistance is at 1.9444(50% fib) but only a move above  would indicate the current weak phase has stabilized.

Recommendation: Good to sell on rallies around 1.9350, with stop loss of 1.9440 and target price of 1.9100.