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FxWirePro:GBP/AUD unlikely to invite any further GBP strength, good to sell on rally

• GBP/AUD initially dipped   on Friday but recovered some ground  investors booked profit on shorts.

• GBP/AUD remains vulnerable, only a break and daily close above 1.8276 (61.8% fib) will shift bias to the upside.

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

• Immediate resistance is located at 1.8733 (21DMA ), any close above will push the pair towards 1.8881 (23.6%fib).

• Strong support is seen at 1.8639 (Daily low) and break below could take the pair towards 1.8570(38.2%fib).

Recommendation: Good to sell   around 1.8730, with stop loss of 1.8800 and target price of 1.8650

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