FxWirePro: GBP/NZD eyes 38.2%fib support after slide from 2.0880 level

• GBP/NZD eased on Thursday as UK political uncertainty, soft UK economic data weighed on pound. 

•The S&P Global UK Composite Purchasing Managers' Index for the services and manufacturing sectors dropped to 52.8 in May, down from 54.1 in April.

•The start of the election campaigns of British Prime Minister Rishi Sunak and his Labour Party rival Keir Starmer, drew eyes on Thursday.

• Bears are waiting for a daily close under 38.2%fib, a break will increase the odds of a deeper fall to toward 2.0700.

• Immediate resistance is located at 2.0890( 22nd May high), any close above will push the pair towards 2.0944 ( 23.6%fib).

• Strong support is seen at 2.0800 (38.2%fib) and break below could take the pair towards 2.0672 (50%fib).

 Recommendation: Good to sell around  2.0820, with stop loss of 2.0950  and target price of 2.0700