•GBP/NZD declined on Monday as chaotic Brexit fears increased selling pressure.
•GBP/NZD has plunged since last week as the outlook deteriorated further and the Brexit outlook continues to worsens.
•At GMT 18:36, the pair was trading down 0.09 percent at 1.9164.
• Technical signals are bearish as RSI is heading down at 27, daily momentum studies 5, 9 and 1 DMAs are trending down.
•On the upside, Immediate resistance is located at 1.9214( 23.6%fib), any close above will push the pair towards 1.9324 (5 DMA)
•On the downside, support is seen at 1.9091(11 Sep low ),break below could take the pair towards 1.9000 (Psychological level).
Recommendation: Good to sell on rally around 1.9160, with stop loss of 1.9450 and target price of 1.9050.
