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• GBP/AUD dipped on Tuesday as hawkish comments from RBA chief Bullock boosted Australian dollar.
• RBA Governor Bullock repeated commitment to bring down inflation and she added, it was trying to do that without pushing unemployment up too far.
• The pair is approaching to test 23.6%fib support. A break under would unmask 1.8900 level in the short term
• Technicals are favouring bearish sentiment as RSI is at 46 and the pair is trading below 5,10 & 11-DMAs.
• Immediate resistance is located at 1.9113 (9DMA), any close above will push the pair towards 1.9177(38.2%fib)
• Strong support is seen at 1.9030 (23.6% fib)and break below could take the pair towards 1.8911 (Nov 3rd low).
Recommendation: Good to sell around 1.9100, with stop loss of 1.9180 and target price of 1.9000
