• GBP/AUD declined on Wednesday as drop was influenced by much higher than expected UK borrowing data.
• British borrowing rose to its highest for any November since records began, reflecting higher costs for energy subsidies, data showed on Wednesday.
• Technical signals are bearish as RSI is turning lower, daily momentum studies ease, 5, 10 & 21 day moving averages conflict.
• Immediate resistance is located at 1.8145 (5DMA), any close above will push the pair towards 1.8268 (23.6%fib).
• Immediate support is seen at 1.8019(Daily low ), break below could take the pair towards 1.7916 (38.2%fib).
Recommendation: Good to sell around 1.8040 with stop loss of 1.8120 and target price of 1.7960
