• GBP/NZD dipped on Friday as dismissal UK economic outlook weighed on pound.
• Underlying trend for the pair remains bearish. A break below 23.6%fib might spur increased downward momentum.
• Technically 5 day and 11-day momentum remains negative and RSI beginning to head down.
• Immediate resistance is located at 1.9521 ( 100DMA), any close above will push the pair towards 1.9611(38.2%fib).
• Strong support is seen at 1.9324 (23.6%fib) and break below could take the pair towards 1.9146 (Lower BB).
Recommendation: Good to sell on rallies around 1.9370 with stop loss of 1.9500 and target price of 1.9300
