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FxWirePro:GBP/AUD strongly bearish despite upside attempts

• GBP/AUD recovered some ground   on Monday as market lacked clear direction due  UK bank holiday.

• GBP/AUD  was clinging  to a small  gains,a dip below the 1.8805 (50%fib) would open the way for a test of Friday's low by 1.8798

• Technical are bearish, daily RSI is negative at 49, daily momentum studies  11 and 14 DMAs are trending down. 

• Immediate resistance is located at 1.8887 (21DMA ), any close above will push the pair towards 1.8940 (38.2%fib).

• Strong support is seen at 1.8805 (50%fib) and break below could take the pair towards 1.8715 (Lower BB).

Recommendation: Good to sell   around 1.8870, with stop loss of 1.9000 and target price of 1.8800
 

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