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FxWirePro: GBP/NZD set to for bigger drop, but close below key fibo needed

• GBP/NZD initially gained  on Friday  but early rally fizzled as investors digested   mixed U.S. jobs data  .

• The is pair heading towards the 50% fib support, as near term direction of the pair is likely to be driven by current price action.  

• Technical are beraish, daily RSI is negitive at 46, daily momentum studies  9 and 10 DMAs are trending down. 

• Immediate resistance is located at 2.2149 (23.6%fib ), any close above will push the pair towards Higher BB).

• Strong support is seen at 2.1946 (38.2%fib) and break below could take the pair towards 2.1817

Recommendation: Good to sell  around 2.2053 with stop loss of 2.2200 and target price of 2.1850
 

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