• GBP/NZD initially gained on Monday but rally fizzled as recent rise in COVID-19 cases across Europe dampened investor sentiment
• GBP/NZD hits daily high at 1.8020 but reverses course to trade at 1.9660 in afternoon US session.
• GBP/NZD remains bearish only a break and daily close above (23.6%fib) will shift bias to the upside.
• Immediate resistance is located at 1.9859 ( 23.6%fib), any close above will push the pair towards 1.9854 ( Daily high).
• Support is seen at 1.9631 (Daily low) and break below could take the pair towards 1.9544(50%fib).
Recommendation: Good to sell around 1.9600 with stop loss of 1.9840 and target price of 1.9500.
