• GBP/AUD recovered some ground on Thursday after Boris Johnson announced he would resign as prime minister.
• The rallied above 1.8100 level, lift stops after finding resistance at 1.7610 (50%fib ).
• GBP/AUD remains vulnerable, only a break and daily close above 1.7700 will shift bias to the upside.
• Technical are bearish, daily RSI is negative at 49, daily momentum studies 11and 14 DMAs are trending down.
• Immediate resistance is located at 1.7610 (50%fib ), any close above will push the pair towards 1.7643 (14DMA).
• Strong support is seen at 1.7498 (38.2%fib) and break below could take the pair towards 1.7431 (Lower BB).
Recommendation: Good to sell around 1.7590, with stop loss of 1.7700 and target price of 1.7500
