• GBP/NZD initially dipped on Friday but recovered some ground as markets braced for potential range-busting Fed and BoE meetings next week.
• In an up-and-down session, the pair hit low at 1.9051 in early trading then gained towards 1.9100.
• Technical signals are bearish as RSI is heading down at 47 , daily momentum studies 9, 11 and 14 DMAs are trending down.
• Immediate resistance is located at 1.9139 (14DMA ), any close above will push the pair towards 1.9159 (38.2%fib).
• Strong support is seen at 1.9033 (23.6%fib) and break below could take the pair towards 1.8960 (Lower BB).
Recommendation: Good to sell on around 1.9110, with stop loss of 1.9190 and target price of 1.9040
