• GBP/NZD declined on Monday as sterling was weighed on amid worries about rising inflation and the slowing UK economy .
• Fed’s Jackson Hole symposium, US Q2 core PCE are event, data risks this week.
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is strongly bearish at 44.
• On the upside, Immediate resistance is located at 1.9100( 5 DMA), any close above will push the pair towards 1.9153 ( 38.2 % fib).
• Strong support is seen at 1.8939 (23.6% fib ) and break below could take the pair towards 1.8832 (Lower BB).
Recommendation: Good to sell around 1.9060, with stop loss of 1.9200 and target price of 1.8950.
