GBP/AUD traded lower during the Asian session yesterday, after hitting resistance near Monday’s high of 1.8290. That said, the slide bottomed out near the 1.7725 level, with the rate now looking set to rebound again. Overall, the pair has been printing lower highs and lower lows so we would consider the short-term uptrend outlook very cautiously. That said, we’d like to buy GBP/AUD at 1.8350 with SL at 1.8130 and TP at 1.8760.
