• GBP/AUD declined on Friday after weaker-than-expected retail sales figures reinforced fears about Britain's economy.
• Retail sales volumes dropped by 1.6% in monthly terms in August, the biggest fall since December 2021.
• The pair is a approaching 38.2%fib . A break under would unmask 1.6900 level .
• Technical signals show bearish momentum , the 5 DMA and 9 DMAs trend south, while RSI is heading south at 43.
•Immediate resistance is located at 1.7038(5DMA) , any close above will push the pair towards 1.7072(38.2%fib).
• Immediate support is seen at 1.6937(38.2%fib ) and break below could take the pair towards 1.6889 (Lower BB).
Recommendation: Good to around 1.7000, with stop loss of 1.7150 and target price of 1.6900
