FxWirePro: USD/JPY grinds sideways at trendline resistance, US dollar barely moves in response to Biden's aggressive stimulus plan
FxWirePro:GBP/NZD drops to intra-day low after shying away from 1.9190
• GBP/NZD dipped on Wednesday as investors remained short as market awaited news on UK finance ministers spending review.
• At GMT 14:30, the pair was trading down 0.28 percent at 1.9078 after reaching daily low at 1.9125.
• GBP/NZD is likely to correct to the downside, melting below 23.6%fib support at 1.9052 and then the lower BB at 1.8983.
• Technicals are favouring bearish sentiment as RSI is at 38 and the pair is trading below 11 & 21-DMAs.
• Immediate resistance is located at 1.9205 (Daily high), any close above will push the pair towards 1.9281 (38.2%fib).
• Immediate support is seen at 1.9052 (23.6%fib ) and break below could take the pair towards 1.8983 (Lower BB).
Recommendation: Good to sell around 1.9100, with stop loss of 1.9300 and target price of 1.8980.