• GBP/NZD declined on Friday as improved risk appetite drove capital flows to kiwi dollar after US data.
• Stocks , commodities , riskier assets rallied on risk-on trade after U.S. jobs report.
• The is pair heading towards the 23.6%fib, as near term direction of the pair is likely to be driven by current price action.
• Technical signals are bearish as RSI is heading down , daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.9072 (9DMA ), any close above will push the pair towards 1.9215(Jan 3rd high).
• Strong support is seen at 1.9024(23.6%fib) and break below could take the pair towards 1.8929 (Lower BB).
Recommendation: Good to sell on around 1.9050, with stop loss of 1.9120 and target price of 1.8950
