• GBP/NZD slipped deeper into negative territory on Tuesday as concerns the BoE's expected rate hike on Thursday may be its last.
•Bank of England (BoE) will likely hike its main interest rate by 25 basis points on Sept. 21 to its highest in more than 15 years.
• A daily close below 2.0845 (61.8% fib) will further improve negative technical outlook, and open the possibility of a fall towards 2.0800 level.
• Technical signals show the pair could lose more ground in the short-term as RSI is at 37 bearish, daily momentum studies 5, 10 and 21 DMAs are trending down.
• Immediate resistance is located at 2.0929 (5DMA),any close above will push the pair towards 2.0964 (50% fib ).
• Immediate support is seen at 2.0845 (61.8% fib) and break below could take the pair towards 2.0781(lower BB).
Recommendation: Good to sell below 2.0900, with stop loss of 2.1100 and target price of 2.0800
