• GBP/NZD eased from 1.9300 level on Wednesday after softer than expected UK January CPI data.
• Data showed UK CPI fell more than expected in January and there were also drops in underlying measures of inflation that are being closely watched by the Bank of England.
• The pair pulled back after failing to break resistance at 1.9300 , it was last trading at 1.9140
• Pair turns negative, nears the 30-DMA ,Long upper wicks on the latest daily candle suggest shorts reign.
• Immediate resistance is located at 1.9168 (38.2% fib), any close above will push the pair towards 1.9300(23.6% fib).
• Immediate support is seen at 1.9095(30DMA) and break below could take the pair towards 1.9051(50% fib).
Recommendation: Good to sell around 1.9140, with stop loss of 1.9250 and target price of 1.9090.
