• GBP/AUD recovered ground on Tuesday as the pair found support 1.8245 (50% fib) at but doubts over June 21 UK reopening limited upside .
• Hopes have waned on reopening of Britain’s economy , as the increase in cases of the delta variant of the coronavirus has led to calls for a postponement of the reopening date.
• GBP/AUD remains vulnerable, only a break and daily close above Higher BB at 1.9405 will shift bias to the upside.
• Techicals are mixed, daily RSI is bullish at 55, daily momentum studies 5, 9 and 10 DMAs are flat.
• Immediate resistance is located at 1.9300(5 DMA ), any close above will push the pair towards 1.8341 (38.2% fib).
• Strong support is seen at 1.8245 (50% fib) and break below could take the pair towards 1.8152 (61.8%fib).
Recommendation: Good to sell on around 1.8310, with stop loss of 1.9410 and target price of 1.9230
