• GBP/NZD gained on Tuesday as positive Brexit talks and better expected UK jobs data helped the British currency.
• At GMT 18:25, the pair was trading 0.96% lower at 2. 0720, lowest since March 31st.
• Selling pressure will remain in the short-term, only a move above 1.9709 (38.2% fib)strong resistance would indicate the weakness in the pair has run out.
• Technically 14 day and 20-day momentum remains negative and RSI is biased lower at 44.
• Immediate resistance is located at 1.9588 ( 14 DMA), any close above will push the pair towards 1.9709 (38.2% fib).
• Strong support is seen at 1.9403 (23.6% fib) and break below could take the pair towards 1.9282 (Lower BB).
Recommendation: Good to sell around 1.9510 with stop loss of 1.9720 and target price of 1.9400
