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FxWirePro: GBP/NZD closes below 5-day moving average , bears keep the advantage

• GBP/NZD declined on Thursday   as relentless   selling pushes EUR/NZD lower

• GBP/NZD drops below the 5-DMA and   50%fib  , slide halts at the 2.0495 (61.8%fib),now eyes the lower bollinger bands at 2.0442.

• From a technical viewpoint, the moving averages are pointing downwards, while the RSI  is strongly bearish at 38.

• Immediate resistance is located at 2.0621 (50%fib), any close above will push the pair towards 2.0657 (5DMA).

• Strong support is seen at 2.0495 (61.8%fib) and break below could take the pair towards 2.0442 (Lower BB).

 Recommendation: Good to sell below 2.0650, with stop loss of 2.0750 and target price of 2.0550

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