• GBP/NZD declined below 2.0500 level on Tuesday as sterling’s bearish streak continued on Bank of England's dovish stance.
• The Bank of England has concluded its tightening cycle and will likely keep the Bank Rate at 5.25% until at least July.
• Bears are on course to force a daily close 23.6%fib support ,that would open the pathway to much bigger losses towards 2.0350 level
• Technicals are favouring bearish sentiment as RSI is at 24 and the pair is trading below 5,10 & 11-DMAs.
• Immediate resistance is located at 2.0517(5DMA), any close above will push the pair towards 2.0504 (38.2%fib).
• Immediate support is seen at 2.0401 (23.6%fib), break below could take the pair towards 2.0337 (Lower BB).
Recommendation: Good to sell around 2.0440 with stop loss of 2.0650 and target price of 2.0330


AUDJPY Eyes New Highs: Bulls Hold 102 Support, Target 104
NZDJPY Eyes Higher Ground: Buy the Dips as Bulls Defend 88.70 Support
GBPJPY Eyes 208: Pound Pulls Back, Bulls Guard 206
FxWirePro- Major US Indices
FxWirePro: AUD/USD consolidates gains ,remains on positive footing
FxWirePro: GBP/AUD gains some upside momentum, but bearish outlook remains
FxWirePro- Major European Indices
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FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption
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FxWirePro: EUR/NZD neutral in the near-term, scope for downward resumption
FxWirePro: USD/JPY dips below lower range, bearish bias increases
FxWirePro: USD/ZAR outlook weaker on renewed downside pressure 



