• GBP/NZD was little changed on Friday as investors scrutinizes Federal Reserve Chair Jerome Powell's Jackson Hole speech.
•Federal Reserve Chair Jerome Powell said the Fed may need to raise interest rates further to ensure inflation is contained.
• GBP/NZD traded in a 1.26-1.2655 range during the Jackson Hole speech. At GMT 19:23, the pair was trading up 0.12 percent at 2.1290
• Technicals are favouring bearish sentiment as RSI has turned lower and the pair is trading below 5 & 9-DMAs.
• Immediate resistance is located at 2.1364 (5DMA), any close above will push the pair towards 2.1445 (38.2%fib)
• Support is seen at 2.1209 (38.2% fib) and break below could take the pair towards 2.1178 (Aug 15th low).
Recommendation: Good to sell around 2.1300 with stop loss of 2.1450 and target price of 2.1180.
