• GBP/NZD declined on Monday as higher U.S. Treasury yields added pressure on currencies like the pound.
•GBP/NZD weakened more aggressively than other cross pairs, at GMT 18:17, the pair was trading down 0.41 percent at 1.9295 after reaching daily low at 1.9275.
• Technicals are favouring bearish sentiment as RSI is at 48 and the pair is trading below 5 & 9-DMAs.
• Immediate resistance is located at 1.9440 (50%fib), any close above will push the pair towards 1.9538 (Higher BB)
• Immediate support is seen at 1.9220(23.6%fib ) and break below could take the pair towards 1.9189 (30DMA).
Recommendation: Good to sell around 1.9310, with stop loss of 1.9500 and target price of 1.8200
