FxWirePro:GBP/NZD threatens 23.6% fib after fall below 1.7500 handle

• GBP/AUD  dipped on Monday  as investors focused on the divergence in monetary policy between the UK, US and the Eurozone.

• Recent BoE policy updates  have kept sterling under downward pressure. The bank's most recent monetary policy meeting signalled more caution about plans for further tightening.

• The pairs fall below the 1.7582 (38.2% fib)has increased the growing bearish strength, putting focus on support at 1.7463.

• Technicals are favouring bearish sentiment as RSI is at 25 and the pair is trading below   5,10 & 11-DMAs. 

• Immediate resistance is located at 1.7582 (38.2% fib), any close above will push the pair towards 1.7715 (50%fib).

• Strong support is seen at 1.7463 (23.6% fib)and break below could take the pair towards 1.7275 (Lower BB).

Recommendation: Good to sell  around 1.7490, with stop loss of 1.7570 and target price of  1.7400