• GBP/ NZD trickled lower on Friday as concerns on 2nd virus wave and rising U.S.-China tensions added to negative mood.
• The pair failed to breach resistance at 2.0463 ( 50% fib) and dipped towards 2.0366 level . A break under 2.0326 (38.2% fib) would unmask 2.0280 level in the short term.
• Technical signals are bearish as RSI is at 46, 21, 30 DMAs are trending down.
• Immediate resistance is located at 2.0463 ( 50% fib), any close above will push the pair towards 2.0602 (61.8% fib).
• Immediate support is seen at 2.0326 (38.2% fib) and break below could take the pair towards 2.0281 (5 DMA).
Recommendation: Good sell around 2.0370, with stop loss of 2.0450 and target price of 2.0200
