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