• GBP/AUD recovered some ground on Monday as market lacked clear direction due UK bank holiday.
• GBP/AUD was clinging to a small gains,a dip below the 1.8805 (50%fib) would open the way for a test of Friday's low by 1.8798
• Technical are bearish, daily RSI is negative at 49, daily momentum studies 11 and 14 DMAs are trending down.
• Immediate resistance is located at 1.8887 (21DMA ), any close above will push the pair towards 1.8940 (38.2%fib).
• Strong support is seen at 1.8805 (50%fib) and break below could take the pair towards 1.8715 (Lower BB).
Recommendation: Good to sell around 1.8870, with stop loss of 1.9000 and target price of 1.8800
