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• GBP/NZD declined on Tuesday as Brexit concerns and confusion over lockdown measures weighed on British pound.
•The pair reaches 2.0143 after extending south from 2.0343 (early Asia high). 2.0143 is the lowest level since March 25th 2020.
• Technical signals show the pair could lose more ground in the short-term as RSI is at 38 bearish, daily momentum studies 5, 10 and 21 DMAs are trending down.
• Immediate resistance is located at 2.0165 (23.6% fib),any close above will push the pair towards 2.0244 (100 DMA).
• Immediate support is seen at 2.0116 (Daily low) and break below could take the pair towards 2.0066 (Lower BB ).
Recommendation: Good to sell below 2.0250, with stop loss of 2.0350 and target price of 2.0000
