• GBP/NZD declined on Friday as increased risk sentiment and higher commodities prices gave the kiwi dollar lift against pound
• GBP/NZD probing 38.2% fib support zone, Break lower risks fall towards 1.9150 level.
• Technical signals are bearish as RSI is at 43, daily momentum studies 9, 11 & 21 DMAs track south.
• Immediate resistance is located at 1.9380(9DMA), any close above will push the pair towards 1.9547(50% fib).
Strong support is seen at 1.9279(38.2% fib) and break below could take the pair towards 1.9136(Nov 7th low).
Recommendation: Good to sell on rallies around 1.9320, with stop loss of 1.9430 and target price of 1.9230
