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FxWirePro:GBP/NZD attracts selling interest, vulnerable to more downside

• GBP/NZD initially gained  on Thursday as after BOE policy decision but gave up ground as focus  tuned   to Scottish election results  .

• Investors were paying attention to elections in Scotland that could herald a political showdown over a new independence referendum.

• GBP/NZD drifted back into negative territory, 1.9203 is low so far is  and it is hovering just above 23.6%fib into the US afternoon

• Technical signals  favours  bearish sentiment, RSI is at 44 and pair trades below 5,9  & 11-DMAs.

• Resistance is located at 1.9261(10DMA) and at 1.9298(38.2%fib).

• Support is found at 1.9158 (23.6%fib)  and at 1.9113(Lower BB).

Recommendation: Good to sell  around 1.9220, with stop loss of 1.9350 and target price of 1.9130
 

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