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FxWirePro:GBP/AUD set for bigger drop, but close below key fibo needed

• GBP/AUD dipped on Friday as Australian dollar was   bolstered by improved  risk sentiment.

• GBP/AUD drops below the 5-DMA  , slide halts at the 1.8006(38.2% fib),break below will accelerate towards  1.7900 level.

• Technicals are favouring bearish sentiment as RSI is turning lower and the pair is trading below   5,10 & 11-DMAs.

• Immediate resistance is located at 1.8139 (5DMA), any close above will push the pair towards 1.8292(23.6% fib)

• Strong support is seen at 1.8006(38.2% fib)and break below could take the pair towards 1.7853 (Nov 28th low).

Recommendation: Good to sell  around 1.8050, with stop loss of 1.8120 and target price of  1.7960

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