FxWirePro: GBP/NZD finds strong support at 21-EMA, weakness only on break below

GBP/NZD chart on Trading View used for analysis

• GBP/NZD is trading in a narrow range, at 1.9079 at 1025 GMT. 
   
• The pair finds strong support at 21-EMA at 1.9046. Break below will see further weakness.
   
• Upside remained capped at 200-DMA, upside only on break above.
   
• On the flipside, break below 21-EMA will see weakness till 1.8978 (cloud top).
   
• Bearish divergence keeps scope for downside. However, breakout above 200-DMA will negate bearish bias.
   
• Focus on RBNZ for further direction. A dovish outcome would likely spark a fresh wave of selling around the kiwi.

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.