• GBP/NZD declined on Wednesday as dovish comments by Bank of England Governor increased vulnerability for pair.
• Bank of England Governor Andrew Bailey said nothing had been decided in terms of whether interest rates would need to rise again.
• Technical signals are bearish as RSI is at 49, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.9271 (50%fib), any close above will push the pair towards 1.9324(5DMA).
• Immediate support is seen at 1.9179 (Daily low) and break below could take the pair towards 1.9080 (38.2%fib).
Recommendation: Good to sell round 1.9230, with stop loss of 1.9390 and target price of 1.9160
