• GBP/AUD dipped on Thursday as growing fears of recession in UK undermined risk sentiment.
• Investors attention shifts to next week BoE meeting , investors are looking ahead to policy decisions from the Bank of England.
•The pair inability to hold gains above 1.9485 (5DMA), may increases the likelihood of a drop towards1.9150 level.
• 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 1.8125 (5DMA), any close above will push the pair towards 1.8291(38.2%fib).
• Strong support is seen at 1.8044 (50% fib)and break below could take the pair towards 1.7994 (9DMA).
Recommendation: Good to sell around 1.8070, with stop loss of 1.8190 and target price of 1.7990