FxWirePro: GBP/NZD attracts selling interest, vulnerable to more downside
• GBP/NZD declined on Monday as rising coronavirus infections and lingering risk of a chaotic Brexit weighed on sterling.
• The pair is heading towards the lower bollinger band, as near term direction of the pair is likely to be driven by current price action.
• Technical signals trending down as RSI is at 28, moving averages14, 21, 30 DMA’s are trending down.
• The pair finds immediate resistance at 1.9134 (Daiy high), followed by 1.9187 (38.2 % fib).
.• The pair finds immediate support at 1.9030 (23.6% fib), followed by 1.8900 (Psychological level)
Recommendation: Good to sell around 1.9030, with stop loss of 1.9200 and target price of 1.8900.