• GBP/NZD dipped on Monday as markets looked ahead to Britain's struggle against rising COVID cases, with tougher lockdown restrictions possibly on the way .
• At GMT 18:37, the pair was trading down 0.52 percent at 1.8900 after reaching daily low at 1.8872.
•The risks for sterling now include potential changes in COVID counts and the possibility of vaccine delays.
• Technicals are favouring bearish sentiment as RSI is at 44 and the pair is trading below 11 & 21-DMAs.
• Immediate resistance is located at 1.8951 (9DMA), any close above will push the pair towards 1.9008 (38.2%fib)
• Support is seen at 1.8816 (23.6%fib ) and break below could take the pair towards 1.8731 (Lower BB).
Recommendation: Good to sell around 1.8900, with stop loss of 1.9150 and target price of 1.8700.
