• GBP/AUD declined on Monday as Brexit concern and fears of a second wave of coronavirus hit British pound.
• The pair is testing support at 1.8186 (23.6 % fib ). A break under 1.8186 would unmask 1.8000 Psychological level.
• At GMT 16:41, the pair was trading down 0.22 percent at 1.8210, after hitting daily high at 1.8427.
• Technical signals show bearish momentum , the 9, 11,14 DMAs trend south, while RSI is heading south at 34.
• On the upside, immediate resistance is located at 1.8298 (14 DMA ), any close above will push the pair towards 1.8439 (23.6% fib ).
• On the downside, immediate support is seen at 1. 8186 (23.6 % fib ) and break below could take the pair towards 1.8010 (Lower BB ).
Recommendation: Good to sell around 1.8200, with stop loss of 1.8450 and target price of 1.8100.
