• GBP/NZD goes positive on day, recovers to test rising trendline.
• However, the lack of a sustained close above trendline hint more downside risk .
• Technical signals are bearish as RSI is at 48, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 2.0618 (Trendline), any close above will push the pair towards 2.0682 (21 DMA).
• Strong support is seen at 2.0482 (55 DMA) and break below could take the pair towards 2.0382 (Lower BB).
Recommendation: Good to sell around 2.0580, with stop loss of 2.0800 and target price of 2.0200
