• GBP/NZD strengthened on Wednesday but upside was limited as the market stayed subdued amid low-tier data.
• The BoE's financial stability report will be released early in the London session, followed by US durable goods orders, first-quarter GDP revisions, and weekly initial jobless claims.
• Technicals are favouring bearish sentiment as RSI is at 49and the pair is trading below 11 & 21-DMAs.
• Immediate resistance is located at 2.0794(38.2% fib), any close above will push the pair towards 2.0873 (50% fib)
• Support is seen at 2.0696(23.6% fib) and break below could take the pair towards 2.0617 (Lower BB).
Recommendation: Good to sell around 2.0780 , with stop loss of 2.0900 and target price of 2.0700.
