FxWirePro: GBP/NZD drops below 1.9000 level, maintains bearish bias

• GBP/NZD dipped on Thursday as Fed's Powell hawkish comments weighed on the pair.

• Federal Reserve Chair Jerome Powell cemented expectation around a 75-basis-point rate hike at its upcoming policy meeting.

• Underlying trend for the pair remains bearish. A break below 1.8948 (23.6%fib) might spur increased downward momentum.

• Technical signals are bearish as RSI is trending down, daily momentum studies  5, 9 and 10 DMAs are pointing southwards. 

• Immediate resistance is located at 1.9007 ( 20 DMA), any close above will push the pair towards 1.9072 (38.2%fib).

• Strong support is seen at 1.8948 (23.6%fib) and break below could take the pair towards 1.8884 (Sep 6th low).

Recommendation: Good to sell   around 1.9000 with stop loss of 1.9100 and target price of 1.8900.