FxWirePro:GBP/NZD bearish again as upside bias reverses

• GBP/NZD declined on Friday   as upbeat risk sentiment boosted kiwi dollar across the board.

• Like other risk-sensitive currencies kiwi dollar often takes  cues from global drivers such as U.S. economic data and monetary policy.

•Markets will likely focus on a speech from Fed Chair Jerome Powell at the Jackson Hole Symposium of global central bankers in Wyoming next week for further hints on the interest rate path of the U.S.

• The pair has seen  1.2510  from 1.2380  range on Friday , chart points to an drop above 1.2380  .

• Immediate resistance is located at 2.1535 (38.2%fib), any close above will push the pair towards 2.1633 (July 22nd high).

• Immediate support is seen at 2.1355 (50%fib) and break below could take the pair towards 2.1176 (61.8%fib).

Recommendation: Good to sell around 2.1400, with stop loss of 2.1500 and target price of 2.1320