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.