FxWirePro:GBP/NZD threatens 38.2% fib after fall below 1.9300 handle

• GBP/NZD dipped on Monday  as sterling attracted sellers ahead of British Chancellor Jeremy Gaunt's autumn statement on Thursday.

• Finance Minister Jeremy Hunt is expected to set out tax rises and spending cuts to show Britain can fix its public finances and restore its economic credibility.

• The pairs fall below the 1.9369 (50% fib)has increased the growing bearish strength, putting focus on support at 1.9190.

• Technicals are favouring bearish sentiment as RSI is at 40 and the pair is trading below   5,10 & 11-DMAs. 

• Immediate resistance is located at 1.9369 (50% fib), any close above will push the pair towards 1.9401(11DMA).

• Strong support is seen at 1.9190 (38.2% fib)and break below could take the pair towards 1.9084 (Lower BB).

Recommendation: Good to sell  around 1.9240, with stop loss of 1.9340 and target price of  1.9170