• GBP/NZD initially dipped on but recovered some ground on Tuesday after BoE reiterated that the central bank's stance on interest rates did not need changing.
• The pair is holding near today's high, but repeated failures to push above 38.2%fib resistance is discouraging longs.
• Technical are bearish, daily RSI is negative at 49, daily momentum studies 11and 14 DMAs are trending down.
• Immediate resistance is located at 2.0750 (38.2%fib), any close above will push the pair towards 2.0763 (21DMA)
• Immediate support is seen at 2.0616 (23.6%fib ) and break below could take the pair towards 2.0566 (Nov 3rd low).
Recommendation: Good to sell around 2.0750, with stop loss of 2.0860 and target price of 2.0680
