• GBP/AUD initially gained on Tuesday but gave up ground as Ukraine tensions alongside looming Fed and BoE rate decisions kept the pair vulnerable.
• Traders positioned themselves for hefty 75 basis points interest rate hike from the U.S. central bank's Federal Open Market Committee meeting on Wednesday.
• Technical signals are bearish as RSI is heading down at 45 , daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.7018(9DMA ), any close above will push the pair towards 1.7113 (38.2%fib).
• Strong support is seen at 1.6912 (23.6%fib) and break below could take the pair towards 1.6890 (Lower BB).
Recommendation: Good to sell on around 1.7020, with stop loss of 1.7220 and target price of 1.6870
