FxWirePro:GBP/NZD unlikely to invite any further GBP strength, good to sell on rally

• GBP/NZD dipped on Thursday as investors remained short as markets globally awaited some clarity on U.S. monetary policy.

• At GMT 22:10, the pair was trading down 0.03 percent  at 1.9711 after reaching daily low at 1.9685.

• Technical are bearish, daily RSI is negative at 44, daily momentum studies  are trending down. 

• Immediate resistance is located at 1.9744(50%fib), any close above will push the pair towards 1.9812 (61.8%fib).

• Immediate support is seen at 1.9674 (38.2%fib ) and break below could take the pair towards 1.9593 (23.6%fib).

Recommendation: Good to sell  around 1.9720, with stop loss of 1.9800 and target price of 1.9650.