• GBP/NZD declined on Thursday as the pair was weighed down by rising tension from the Russia-Ukraine war.
•Russian President Vladimir Putin, in a televised address, said Moscow struck a Ukrainian military facility with a new ballistic missile and warned that more could follow.
• With the U.S. vetoing a U.N. ceasefire resolution in Gaza and heightened tensions between Russia and Ukraine, geopolitical concers remain elevated.
• Technicals are favoring bearish sentiment as RSI is at 44 and the pair is trading below 5,10 & 11-SMAs.
• Immediate resistance is located at 2.1561(50% fib), any close above will push the pair towards 2.1625(21SMA)
• Strong support is seen at 2.1443(38.2% fib)and break below could take the pair towards 2.1416 (Lower BB).
Recommendation: Good to sell around 2.1500, with stop loss of 2.1600 and target price of 2.1430
