• GBP/AUD declined on Thursday, as concerns about negotiations between Britain and the European Union weighed on British pound.
• At GMT 15:53, the pair already trading lower on the day, extended its drop to hit $1.9192, a 1-week low, and was last down 0.4% on the day
• Technical signals show bearish momentum , the 5 DMA and 21 DMAs trend south.
• On the upside, Immediate resistance is located at 1.9316 (61.8% fib ), any close above will push the pair towards 1.9363 (9 DMA).
• On the downside, strong support is seen at 1.9152 (38.2 Fib) and break below could take the pair towards 1.9100 (Psychological level).
Recommendation: Good to sell on rallies around 1.9300, with stop loss of 1.6400 and target price of 1.9180.
