• GBP/AUD initially dipped on Friday but recovered some ground investors booked profit on shorts.
• GBP/AUD remains vulnerable, only a break and daily close above 1.8276 (61.8% fib) will shift bias to the upside.
• Technical are bearish, daily RSI is negative at falling , daily momentum studies 11and 14 DMAs are trending down.
• Immediate resistance is located at 1.8733 (21DMA ), any close above will push the pair towards 1.8881 (23.6%fib).
• Strong support is seen at 1.8639 (Daily low) and break below could take the pair towards 1.8570(38.2%fib).
Recommendation: Good to sell around 1.8730, with stop loss of 1.8800 and target price of 1.8650
