FxWirePro: GBP/NZD faces strong support at 1.7270, good to sell on rallies

• Major support – 1.7270 (Jan 25th low).
   
• Major resistance – 1.7420
   
• GBP/NZD formed a temporary top around 1.7420 and started to decline from that level. It is currently trading around 1.73145.
   
• The decline from 1.79979 to 1.6825 will come to an end if it breaks above 1.7420 level.
   
• Any break above 1.7420 will take the pair to next 1.7510 (200- 4H MA) /1.7590. On the lower side, any break below 1.7270 will drag the pair till 1.71465 (Jan 24th low)/1.7059 (61.8% retracement of 1.6825 and 1.7420).

It is good to sell on rallies around 1.7345-50 with SL around 1.7420 for the TP of  1.727/1.7160