• GBP/AUD dipped on Friday as Australian dollar was bolstered by improved risk sentiment.
• GBP/AUD drops below the 5-DMA , slide halts at the 1.8006(38.2% fib),break below will accelerate towards 1.7900 level.
• Technicals are favouring bearish sentiment as RSI is turning lower and the pair is trading below 5,10 & 11-DMAs.
• Immediate resistance is located at 1.8139 (5DMA), any close above will push the pair towards 1.8292(23.6% fib)
• Strong support is seen at 1.8006(38.2% fib)and break below could take the pair towards 1.7853 (Nov 28th low).
Recommendation: Good to sell around 1.8050, with stop loss of 1.8120 and target price of 1.7960
