FxWirePro:GBP/AUD capped by the 50% fibonacci,good to sell on rallies

• GBP/AUD strengthened on Monday as  traders clung to hopes that Britain and the European Union would soon seal a long-awaited Brexit trade deal.

• GBP/AUD hits 1.3362 after rallying off from 1.3305 (intra-day low), lift stops after finding resistance at 1.8863 (23.6% fib).

• GBP/AUD remains vulnerable, only a break and daily close above 1.8250 (61.8% fib) will shift bias to the upside.

• Technical are bearish, daily RSI is negative at 49, daily momentum studies 14  and 21 DMAs are trending down. 

• Immediate resistance is located at 1.8174 (50%fib ), any close above will push the pair towards 1.8210 (30DMA).

• Strong support is seen at 1.8093 (38.2%fib) and break below could take the pair towards 1.7986(23.6%fib).

Recommendation: Good to sell on  around 1.8180, with stop loss of 1.8250 and target price of 1.8100