• GBP/NZD dipped on Tuesday after reversal of the UK government's unfunded tax cut led investors to bet that the BoE may not raise interest rates as aggressively.
• Britain's new finance minister, Jeremy Hunt,scrapped Prime Minister Liz Truss's economic plan and scaled back her vast energy support scheme to try to stem a loss of investor confidence.
• GBP/NZD remains vulnerable, only a break and daily close above 38.6% fib will shift bias to the upside.
• Immediate resistance is located at 2.0033(38.2% fib), any close above will push the pair towards 2.0033 (Daily high).
• Strong support is seen at 1.9823 (50% fib) and break below could take the pair towards 1.9594 (61.8% fib).
Recommendation: Good to sell on around 1.9900, with stop loss of 2.0050 and target price of 1.9800
