• GBP/NZD declined on Thursday as the the pair was dragged lower after the ECB raised interest rates by 25 basis points.
• The is pair heading towards the 50%fib, as near term direction of the pair is likely to be driven by current price action.
• Technical signals are bearish as RSI is heading down at 49 , daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 2.0129 (38.2%fib ), any close above will push the pair towards 2.0129(5DMA).
• Strong support is seen at 1.9925 (50%fib) and break below could take the pair towards 1.9836 (Lower BB).
Recommendation: Good to sell on around 2.0050 with stop loss of 2.0200 and target price of 1.9950
