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FxWirePro:GBP/AUD dips below lower range, bearish bias increases

• GBP/AUD declined on Friday as concerns about EU-UK trade talks weighed on Pound.

• Pair reached a 1.7998 low before recovering slightly to 1.8006, as near term direction of the pair is likely to be driven by current price action.  

• Technicals are bearish, daily RSI is negative at 41, daily momentum studies  9 and 10 DMAs are trending down. 

• Immediate resistance is located at 1.8102 (38.2%fib ), any close above will push the pair towards 1.8152 (21 EMA).

• Strong support is seen at 1.7996 (23.6%fib) and break below could take the pair towards 1.7953 (Lower BB).

Recommendation: Good to sell on  around 1.8380, with stop loss of 1.8650 and target price of 1.9250

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