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• GBP/AUD ran into resistance on Thursday at 2.0063 after ticking up from 1.9739.
• The pair dipped after Trump announced suspension of Europeans travel to US stunned investors.
• Currently, the 2.0063 (50 % fib) barrier is restricting higher move, will likely be a speed bump to bulls.
• Selling pressure will remain in the short-term, only a move above 2.0063 (50 % fib) strong resistance would indicate the weakness in pair has run out .
• On the upside, Immediate resistance is located at 2.0063 (50 % fib), any close above will push the pair towards 1.20240(61.8% fib).
• On the downside, strong support is seen at 1.9802 (5 DMA) and break below could take the pair towards 1.9668 (23.6% fib).
Recommendation: Good to sell on rally around 2.0050, with stop loss of 2.0150 and target price of 1.9850.
