• GBP/AUD declined on Friday as stronger Australian dollar and recession fears deepening in UK weighed on the pair .
• The is pair heading towards the 38.2%fib, as near term direction of the pair is likely to be driven by current price action.
• Technical signals are bearish as RSI is heading down at 47 , daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.8065 (50%fib ), any close above will push the pair towards 1.8095 (11DMA).
• Strong support is seen at 1.7928(38.2%fib) and break below could take the pair towards 1.7837(Lower BB).
Recommendation: Good to sell on around 1.7945 with stop loss of 1.8065 and target price of 1.7880
