Fxwirepro:GBP/AUD outlook weaker on renewed downside pressure

• GBP/AUD dipped on Tuesday, as Brexit jitters weighed on British pound.

• At GMT 14:52, the pair was trading 0.23% lower at 1.9375, shy of  1 week low of 1.9255 it reached on 29th January.  

• Technical signals show the pair could lose more ground in the short-term as RSI is at 43.93 bearish, daily momentum studies  5, 10 and 21 DMAs have  started to trend south.

• On the upside, Immediate resistance is located at 1.9420 ( 9DMA), any close above will push the pair towards 1.9502 (21 DMA).

• On the downside, strong support is seen at 1.9286 (Lower BB) and break below could take the pair towards 1.9200 (Psychological level).

Recommendation: Good to sell on rallies around 1.9400, with stop loss of 1.6500 and target price of 1.9280.