• GBP/NZD declined on Wednesday as worries over a possible recession weighed on sentiment.
• Much of the market turmoil in UK is due to a surging inflation rate which is the highest among Group of Seven economies.
• The is pair heading towards the 38.2% fib support, as near term direction of the pair is likely to be driven by current price action.
• Technical are bearish, daily RSI is negative at 47, daily momentum studies 21 and 30 DMAs are trending down.
• Immediate resistance is located at 1.9031(38.2% fib), any close above will push the pair towards 1.9087 (30DMA).
• Strong support is seen at 1.8933 (38.2% fib)and break below could take the pair towards 1.8809 (23.6% fib).
Recommendation: Good to sell on around 1.9010, with stop loss of 1.9200, and target price of 1.8940.


FxWirePro: GBP/AUD recovers some ground, geopolitics holds center stage
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CNY dips as Yuan firms despite weak China factory data
FxWirePro: USD/CAD bulls continue to hold the higher ground
FxWirePro: AUD/USD steadies around 0.7185, US-Iran news remains key
FxWirePro- Woodies pivot (Major)
FxWirePro: USD/JPY remains in familiar place on intervention threat
FxWirePro: USD/ZAR sell bias remains below key resistance zone
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/ZAR recovers some ground but outlook is bearish
FxWirePro: GBP/USD edged higher as hopes for US-Iran deal boost riskier assets
EUR/JPY Bulls Hold the Line Above 185: Eyes Locked on 188 Breakout
EURJPY Extends 5-Day Winning Streak Toward 186 — Bulls Reload on Dips for 188 Target
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Crypto levels and bias summary
AUDJPY Powers Above 114.50 on Aussie Strength—Bulls Target 116.25 on Dips to 113.85 



