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

• GBP/AUD recovered some ground on Thursday as the pair was swept up in global market swings on Russia's Ukraine invasion.

• GBP/AUD remains vulnerable, only a break and daily close above 1.8808( 50%fib) will shift bias to the upside.

• From a technical viewpoint, the moving averages are pointing downwards, while the RSI  is strongly bearish at 38.

• Immediate resistance is located at 1.8733( 38.2%fib), any close above will push the pair towards 1.8808( 50%fib). 

• Strong support is seen at 1.8640 (23.6% fib ) and break below could take the pair towards 1.8600 (Ichimoku Cloud Base).

Recommendation: Good to sell around 1.8690, with stop loss of 1.8810 and target price of 1.8600.
 

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