• GBP/ NZD declined on Friday as economic slowdown in the UK coupled with domestic political uncertainty.
• Bears have tightened their grip after registering a close below the 1.9352 (50%fib),scope grows for bigger gains towards 1.9200.
• Technical signals are strongly bearish as RSI is bearish at 41, 5, 9,11 DMAs are trending down.
• Immediate resistance is located at 1.9362 (50%fib), any close above will push the pair towards 1.9416(5DMA).
• Immediate support is seen at 1.9214 (38.2%fib%fib) and break below could take the pair towards 1.9170 (Lower BB).
Recommendation: Good sell around 1.9270, with stop loss of 1.9360 and target price of 1.9200
