• GBP/NZD declined on Thursday as higher iron ore prices and increased risk sentiment boosted kiwi dollar.
• Chinese officials committed to implementing additional fiscal policy measures to support the country's faltering economic growth, resulting in increased demand for riskier assets like the Kiwi dollar
• Prices of iron ore futures extended gains into a third straight session on Thursday.
• Technical signals are bearish as RSI is trending lower, moving averages are trending down
• Immediate resistance is located at 2.1291 (38.2% fib), any close above will push the pair towards 2.1337(Sep 24th high).
• Strong support is seen at 2.1165 (23.6% fib) and break below could take the pair towards 2.1034 (Lower BB).
Recommendation: Good to sell on around 2.1210 with stop loss of 2.1320 and target price of 2.1100
