• GBP/NZD declined after initially gaining on Thursday as Russia's invasion of Ukraine triggered sell off in the pair.
• The pair is currently approaching support at 1.9948 (23.6%fib). A break and daily close below will accelerate trend further lower towards 1.9850 level.
• Technical signals are bearish as RSI is lower at 36, moving averages are heading south.
• Immediate resistance is located at 2.0000 ( 9DMA), any close above will push the pair towards 2.0101 ( 38.2% fib).
• Immediate support is seen at 1.9948 (23.6%fib) and break below could take the pair towards 1.9824(Jan 5th low).
Recommendation: Good to sell around 2.0000, with stop loss of 2.0100 and target price of 1.9900.
