FxWirePro :GBP/NZD threatens 38.2% fib after fall below 2.0600 handle

• GBP/NZD  dipped on Friday  as increased risk appetite and  gains equity , commodity prices  helped kiwi dollar.

•The price of oil,   declined ahead of a meeting of OPEC and its allies this weekend while Dalian iron rose 3 percent underpinning kiwi dollar

• Price slides to 2.0541 from 2.0671 Daily high. The pair has seen a 130 pip range, on Friday

• Immediate resistance is located at 2.0716(23.6%fib), any close above will push the pair towards 2.0806(Higher BB)

• Strong support is seen at 2.0490(38.2% fib)and break below could take the pair towards 1.20394  (9DMA).

Recommendation: Good to sell  around 2.0560, with stop loss of 2.0660 and target price of  2.0480