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• GBP/AUD declined on Monday as investors geared up for key policy decisions Bank of England this week.
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• The pound's resurgence on newfound UK political stability has run into headwinds as traders prepare for the upcoming meetings.
• GBP /AUD drops below 1.8000(Psychological level), slide halts at the 1.7905(50%fib),break below will accelerate towards 1.7800 level.
• Immediate resistance is located at 1.8132 ( 61.8%fib), any close above will push the pair towards 1.8219(Higher BB).
• Immediate support is seen at 1.7905(50%fib) and break below could take the pair towards 1.7783 (20DMA).
Recommendation: Good to sell around 1.7920, with stop loss of 1.8050 and target price of 1.7850.
