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FxWirePro:GBP/AUD force is with bears as pair hits lowest since 27th April

• GBP/AUD dipped on Monday  as Australian dollar gained ground against pound ahead of RBA rate decision.

• Gains in commodities also helped boost the high beta currency.

• A close below 1.8798(38.2% fib), would add to pairs bearish structure, opening the way for a test of 10DMA.

• Immediate resistance is located at 1.9037(23.6%fib), any close above will push the pair towards 1.9088 (Higher BB)

• Strong support is seen at 1.8798(38.2% fib)and break below could take the pair towards 1.8692 (10DMA).

Recommendation: Good to sell  around 1.8850, with stop loss of 1.8950 and target price of  1.8750

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