Technical analysts at Citigroup Inc. advise investors to sell British currency versus Australian dollar looking forward to sterling’s decline to 1.63.

The specialists note that pound may go down below support levels formed by 21-, 55- and 200-day Fibonacci MA for the first time since February 2009 when GBP/AUD reversed downwards.

Citigroup strategists recommend selling pound that lost 6% versus Aussie this year at 1.6880 stopping at 1.7050.



Chart. H4 GBP/AUD

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