• GBP/NZD fell deeper into negative territory on Friday as concerns the BoE's expected rate hike may be its last dragged pound lower against kiwi dollar.
• The pound was 0.7% lower against the kiwi dollar at $2.0420 , The pair traded in range 2.0533/ 2.0420 on Friday.
• The technical outlook remains bearish and points to eventual bigger losses, Fourteen-day momentum is negative, reinforcing the scope for a bigger slump
• Immediate resistance is located at 2.0521 (21DMA), any close above will push the pair towards 2.0584(38.2%fib).
• Immediate support is seen at 2.0392(23.6%fib) and break below could take the pair towards 2.0290(Oct 3rd low).
Recommendation: Good to sell around 2.0450, with stop loss of 2.0 550 and target price of 2.0350
