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FxWirePro: GBP/NZD bull lose traction, cannot add to earlier gains

• GBP/NZD dipped on Tuesday as calm in bond markets benefited New Zealand dollar.

• Riskier currencies like   New Zealand dollar continued to rebound from last week’s selloff as bond markets appeared to calm.

• GBP/NZD drifted back into negative territory. 1.9128 is low so far is  and it is hovering just above 38.2%fib into the US afternoon

• Technical signals  favours  bearish sentiment, RSI is at 49 and pair trades below 5,9  & 11-DMAs.

• Resistance is located at 1.9296 ( 50%fib) and at 1.9286 (Higher BB).

• Support is found at 1.9079 (38.2%fib) and at 1.8926 (Lower BB).

Recommendation: Good to sell   around 1.9170, with stop loss of 1.9350 and target price of 1.9030


 

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