FxWirePro:GBP/NZD resumes downside after failing to break above 9 EMA

• GBP/NZD dipped on Thursday as   GBP outlook dimmed ahead of Britain's economic figures.

• The upcoming release of UK gross domestic product (GDP) data on Friday will offer valuable insights into the current state of UK  economy.  

• It will also provide clues regarding the potential duration for which the Bank of England (BoE) can maintain its interest rates at 5.25%.

• Technicals are favouring bearish sentiment as RSI is at 49 and the pair is trading below   11 & 21-EMAs.

• Immediate resistance is located at 2.0985 (9EMA), any close above will push the pair towards 2.1015(38.2% fib )

• Support is seen at 2.0881 ( 50%  fib   ) and break below could take the pair towards 2.0758 (61.8%  fib).

Recommendation: Good to sell  around 2.0960, with stop loss of 2.1050  and target price of 2.0900.