FxWirePro:GBP/AUD fall caught by key fibo,but trend remains down

• GBP/AUD dipped on Wednesday as investors remained short as market awaited Thursday's Banak of England’s meeting.

• At GMT 17:30, the pair was trading down 0.11 percent  at 1.8436 after reaching daily low at 1.8398.

•If the BoE outlook is seen as too cautious at Thursday's meeting, GBP/AUD is likely to test 1.8300 level.

• Immediate resistance is located at 1.8490 (Higher BB), any close above will push the pair towards 1.8530 (23.6%fib).

• Immediate support is seen at 1.8409(38.2%fib ) and break below could take the pair towards 1.8348 (Lower BB).

Recommendation: Good to sell  around 1.8430, with stop loss of 1.8530 and target price of 1.8320.