• GBP/AUD declined on Tuesday as selling was influenced by some profit-taking on long positions.
•The pair extended its drop to hit 1.8026, a one week low, it was last down 0.70% on the day.
• The pair is approaching to testing 1.8015 (21DMA ). A break under 1.8015 would unmask 1.7963 (50%fib).
•Technical signals show the pair could lose more ground in the short-term as RSI is has turned sharply bearish, daily momentum studies 9, 10 and 11 DMAs are trending down.
• Immediate resistance is located at 1.8098 (38.2%fib ), any close above will push the pair towards 1.8209 (Daily high).
• Immediate support is seen at 1.8015(21DMA ), break below could take the pair towards 1.7963 (50%fib).
Recommendation: Good to sell around 1.8070 with stop loss of 1.8200 and target price of 1.8000.
