• GBP/ NZD declined to hit one and a half month low on Friday as hawkisk comment from RBNZ lifted the pair kiwi dollar against pound.
• The Super hawkish Reserve Bank of New Zealand (RBNZ) showed no sign of a pause on Friday as Governor Adrian Orr said quick hikes were needed to stave off inflation.
• The bank raised rates by a quarter point to 1.0 earlier this week and forecast they could reach 3.35% by early 2024.
• The pair is testing support at 1.9842 ( 23.6% fib)level. A decisive break closure below 1.9842 could push the pair further lower.
• Immediate resistance is located at 1.9970 (Ichimoku Cloud Top), any close above will push the pair towards 1.9752(Ichimoku Cloud Top).
• Immediate support is seen at 1.9842 ( 23.6% fib) and break below could take the pair towards 2.0006 (38.2% fib).
Recommendation: Good to sell around 1.9870, with stop loss of 1.9990 and target price of 1.9800 level
