•GBP/NZD strengthened on Wednesday as risk appetite improved on hopes of Russia-Ukraine crisis de-escalation .
• Markets remain attentive to any headlines raising the potential for a resolution of the Ukraine crisis . Peace prospects would refocus investors back to rates BoE rate hikes.
•A fading risk rally would expose 2022 low at 1.9035 and then the Psychological level 1.9000.
•Techicals are pointing downtrend as RSI is at 24 , daily momentum studies 5, 9 and 10 DMAs are trending lower.
•Immediate resistance is located at 1.9293 (38.2% fib ), any close above will push the pair towards 1.9441 (50% fib).
•Strong support is seen at 1.9105 (23.6% fib) and break below could take the pair towards 1.9016(Lower BB).
Recommendation: Good to sell on around 1.9290, with stop loss of 1.9440 and target price of 1.9050
