• GBP/NZD declined on Tuesday as crisis in British Prime Minister Boris Johnson's government put pressure on sterling .
•The pair reaches 1.9380 after extending south from daily high . 1.9380 is the lowest level since Jan 22nd June 2022.
• Technical signals show the pair could lose more ground in the short-term as RSI is at 46 bearish, daily momentum studies 5, 10 and 21 DMAs are trending down.
• Immediate resistance is located at 1.9451 (5 DMA),any close above will push the pair towards 1.9548 (50 % fib ).
• Immediate support is seen at 1.9319 (38.2% fib) and break below could take the pair towards 1.9240 (Lower BB )
Recommendation: Good to sell below 1.9400, with stop loss of 1.9500 and target price of 1.9300
