• GBP/NZD dipped on Tuesday as worries about Russian-Ukraine war and Britain's economic outlook weighed on sterling.
• The pair already under pressure from reduced expectations for BoE rate hikes this year , dropped beneath 38.2% fib support.
• Technicals are favouring bearish sentiment as RSI is at 48 and the pair is trading below 11 & 21-DMAs.
• Immediate resistance is located at 1.9218 (38.2% fib), any close above will push the pair towards 1.9250 (5 DMA)
• Support is seen at 1.9031 (23. 6% fib) and break below could take the pair towards 1.8859 (April 13th low).
Recommendation: Good to sell around 1.9150, with stop loss of 1.9300 and target price of 1.9050.
