FxWirePro: GBP/NZD breaks major trendline support and slips below 1H 50-SMA, good to sell rallies

• GBP/NZD rejected at day's highs by 2.1102, and is currently trading at 2.1016 levels.
   
• The pair has broken major trend line support at 2.1047 on the hourly charts and has slipped below the 1H 50-SMA.
   
• Technicals on hourlies support downside, test of 2.0960 levels likely.
   
• Immediate resistance is seen at 2.1032 (1H 50-SMA), while support is located at 2.0980 (5-DMA).
   
• UK services PMI due later in the EU session is a major risk event. The services PMI index improved in March to 53.7 points. Estimate for April stands at 53.6 points.
   
• Any disappointment could weigh heavily on the pair. On the flipside upbeat data could see spike to 2.12 levels. 
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Recommendation: Good to sell rallies around 2.1030/40, SL: 2.1070, TP: 2.0980/2.0960/2.0940