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FxWirePro:GBP/AUD falls below 1.9300, bears keep the advantage

• GBP/AUD declined on Thursday  as diminishing possibility of a more aggressive rate hike by the BoE hit pound.

• The is pair heading towards the 61.8% fib support, as near term direction of the pair is likely to be driven by current price action.  

• Technical are bearish, daily RSI is negative at 37, daily momentum studies  9 and 10 DMAs are trending down. 

• Immediate resistance is located at 1.9371 (5DMA ), any close above will push the pair towards 1.9454 (50% fib).

• Strong support is seen at 1.9232 (61.8% fib) and break below could take the pair towards 1.9194 (Lower BB).

Recommendation: Good to sell on  around 1.9280, with stop loss of 1.9380 and target price of 1.9180

 

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