• GBP/NZD declined on Friday as the pair continued to remain under bearish pressure from yesterday's Bank of England (BoE) announcement.
•Bank of England (BoE) BoE hiked by 75bp on Thursday , but tweaked the policy message to the dovish side.
• GBP/NZD is now on course to register a close below the 38.2%fib support, chart points to bigger drop towards 1.9100 level.
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is strongly bearish at 36.
• Immediate resistance is located at 1.9372 (50%fib), any close above will push the pair towards 1.9482(5DMA).
• Strong support is seen at 1.9109 (38.2%fib) and break below could take the pair towards 1.8930(29th Sep low).
Recommendation: Good to sell below 1.9170, with stop loss of 1.9250 and target price of 1.9100
