FxWirePro: GBP /NZD falls below 2.3200 level, bears keep the advantage

• GBP/NZD dipped sharply on Thursday  as latest UK inflation data and dovish comment from Bank of England policymaker weighed on the pound.

•Bank of England policymaker Swati Dhingra stated on Thursday that higher U.S. import tariffs are weighing on UK growth and are likely to put downward pressure on British inflation in the medium term.

• Annual consumer price inflation held steady at 3.8% year-on-year, unchanged from July and August, below the market forecast of 4.0%.

• UK inflation data suggested that inflation is easing toward the Bank of England's 2% target, leading to a downward shift in UK rate expectations across the curve.

• Market pricing now indicates a 75% probability of a Bank of England rate cut by December 18, up sharply from the 45% chance seen before the data.

• Immediate resistance is located at 2.3245(SMA 20), any close above will push the pair towards 2.3479(Higher BB).

• Immediate support is seen at 2.3115(38.2%fib 0) and break below could take the pair towards 2.3023137(Lower BB).

Recommendation: Good to sell around 2.3200, with stop loss of 2.3300, and target price of 2.3090