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FxWirePro: GBP/NZD neutral in the near-term, scope for downward resumption

• GBP/NZD recovered some ground from initial decline on Thursday as investors assessed  BOE rate hike bets.

• GBP/NZD   recovers towards  above 1.9100 and holds near the day's high in late US session.

• A close under the 23.6% fib   is needed to weaken the outlook even further.That would put the focus on the Lower BB that is currently at 1.9041.

• Technical signals are mixed as RSI has turned lower, moving averages are mixed.

• Immediate resistance is located at 1.9183 ( 38.2%fib), any close above will push the pair towards 1.9230 ( 11DMA).

• Immediate support is seen at 1.9112 (23.6%fib) and break below could take the pair towards 1.9041(Lower BB).

 Recommendation: Good to sell around 1.9150, with stop loss of 1.9250 and target price of 1.9060.

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