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FxWirePro:GBP/AUD gains some upside momentum but still bearish

• GBP/AUD initially dipped on Wednesday   but recovered ground as a skid in global share markets and a selloff in U.S. Treasuries slugged risk sentiment .

• At GMT 17:46, the pair was trading up 0.05 percent   at $1.8698.  

• Technical are bearish, daily RSI is negative at 26, daily momentum studies  9 and 10 DMAs are trending down. 

• Immediate resistance is located at 1.8767 (38.2%fib ), any close above will push the pair towards 1.8799(9DMA).

• Strong support is seen at 1.8618(23.6%fib) and break below could take the pair towards 1.8578 (Lower BB).

Recommendation: Good to sell on  around 1.8710, with stop loss of 1.8850 and target price of 1.8530

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