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FxWirePro: GBP/AUD falls as EU and UK battle over vaccines, vulnerable to more downside

• GBP/AUD declined on Monday as investors weighed up the impact of the European Union’s threat to impose a ban on vaccine imports to Britain.  

• GBP/AUD last traded at 1.7312, down 0.07% on the day, after briefly falling to 1.7848 earlier.

•   Technical signals are bearish as RSI is at 48, daily momentum studies  5, 9 and 10 DMAs are trending down.

• Immediate resistance is located at 1.7930 (9 DMA ), any close above will push the pair towards 1.7985(50% fib).

• Immediate support is seen at 1.7851(38.2%fib ) and break below could take the pair towards 1.7766(Lower BB).

Recommendation: Good to sell around 1.7880, with stop loss of 1.8000 and target price of 1.7800.

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