• GBP/NZD dipped on Monday as Kiwi dollar rose across the board after Prime Minister Jacinda Arden announced that lockdown measures will likely be phased out by the end of the month.
•New Zealand will ease COVID-19 restrictions in Auckland from Wednesday, as vaccination rates rise.
• At GMT 15:16 the pair was trading down 0.20 percent at 1.8903 after reaching daily low at 1.8854.
• Technicals are favouring bearish sentiment as RSI is at 28 and the pair is trading below 5,9 & 11-DMAs.
• Immediate resistance is located at 1.8952 (38.2% fib), any close above will push the pair towards 1.9031(50%fib)
• Support is seen at 1.8854 (23.6%fib ) and break below could take the pair towards 1.8832 (Lower BB).
Recommendation: Good to sell around 1.8910, with stop loss of 1.9025 and target price of 1.8860.
