FxWirePro: GBP/NZD gains some upside momentum but still bearish

• GBP/NZD recovered some ground from initial decline on Tuesday as  investors focus shifted   to Wednesday’s Fed meeting minutes.

• Federal Reserve  policy remains key driver as Bank of England rate peak is seen below Fed in 2023.

• GBP/NZD recovers towards  above 1.9150 and holds near the day's high in US session. 

• The pair  remains weak and might fall towards  1.8950 in the short term due to recession fears in the UK , despite todays recovery.

• Immediate resistance is located at 1.9232 (50% fib), any close above will push the pair towards 1.9347 ( Higher BB).

• Immediate support is seen at 1.9109(9DMA) and break below could take the pair towards 1.8994 (38.2% fib).

 Recommendation: Good to sell around 1.9170 with stop loss of 1.9250 and target price of 1.9080.