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• GBP/NZD dipped on Tuesday as market sentiment on rates swung from dovish to hawkish.
• The pound fell 0.20% against the kiwi to 2.0040`and got as low as 2.0031.
• Technical outlook is bearish in short-term as RSI has turned lower, moving averages are trending down.
• Immediate resistance is located at 2.0084 (38.2%fib), any close above will push the pair towards 2.0199 (5DMA)
• Immediate support is seen at 1.9985(April 19th low ) and break below could take the pair towards 1.98808 (50%fib).
Recommendation: Good to sell around 2.0040, with stop loss of 2.0150 and target price of 1.9930
