• GBP/AUD declined on Friday as buoyed risk sentiment and hawkish RBA expectations boosted Australian dollar.
• RBA will hold its key policy rate at 4.35% for a fourth straight meeting on Tuesday , RBA will remain on hold, but they will maintain and possibly amp up their rhetoric about the risk of a hike
• GBP/AUD drops swiftly from 1.9099 to 1.8951. Break lower 38.2%fib risks run towards 1.8850 level .
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is strongly bearish at 37.
• Immediate resistance is located at 1.9050( 50%fib), any close above will push the pair towards 1.9099 (Daily high).
• Immediate support is seen at 1.8951(38.2%fib) and break below could take the pair towards 1.8833 (23.6%fib).
Recommendation: Good to sell around 1.8980 with stop loss of 1.9100 and target price of 1.8900.
