• GBP/NZD declined on Friday as investors continued to digested UK budget announcement.
• GBP/NZD probed support at 1.9205 (38.2% fib), and recovered towards 1.9299, break lower risks run towards 1.9150 level .
•Technical are bearish, daily RSI is negative at 43, daily momentum studies 9 and 10 DMAs are trending down.
•Immediate resistance is located at 1.9337 (5DMA ), any close above will push the pair towards 1.9427 (50% fib).
•Strong support is seen at 1.9205 (38.2% fib) and break below could take the pair towards 1.9024 (Lower BB).
Recommendation: Good to sell on around 1.9300, with stop loss of 1.9400 and target price of 1.9200
