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FxWirePro: GBP/NZD downtrend loses steam but outlook still bearish

• GBP/NZD  declined on Thursday   as improved risk sentiment and  higher commodity prices boosted commodity linked kiwi dollar 

• The is pair heading towards  2.0900, as near term direction of the pair is likely to be driven by current price action.  

• Technical are bearish, daily RSI is negative  is, daily momentum studies  9 and 14 EMAs are trending down. 

• Immediate resistance is located at 2..1013 (9EMA), any close above will push the pair towards 2..1114 (April 3rd).

• Strong support is seen at 2..0954 (38.2% fib)and break below could take the pair towards 2..0881 (March 18th low).

Recommendation: Good to sell on  around 2..1000, with stop loss of 2..1100, and target price of 2..0900

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