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FxWirePro: GBP/NZD chart very bearish, looks on course for 1.9100

• GBP/NZD declined Thursday as supportive global risk sentiment boosted demand for high-yielding commodity linked New Zealand dollar.

• GBP/NZD hits daily lows in US trading, breaking the 38.2% fibo  , with support at 1.9199(38.2% fib)next. 

• GBP/NZD remains bearish, only a close back above  61.8%fib at 1.9422 , could upset the bearish order.

• Immediate resistance is located at 1.9308 (38.2%fib ), any close above will push the pair towards 1.9356 (50DMA).

• Strong support is seen at 1.9199(38.2% fib) and break below could take the pair towards 1.9151 (100DMA).

Recommendation: Good to sell around 1.9230, with stop loss of 1.9320 and target price of 1.9170

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