• GBP/NZD initially dipped on Tuesday but recovered some ground as investors expect the BoE to end, and possibly reverse, its monetary tightening cycle soon he central bank's next moves..
• Investors await more comment from the BoE and provisional data for British fourth-quarter gross domestic product (GDP) on Friday, which might provide further clues about t
• Pair traded in a quiet 1.18975/1.9090 range and was last trading at 1.9031 in the US afternoon. Another dip is likely. A break above resistence 1.6354 is unlikely
• Technical signals are bearish as RSI is at 48, daily momentum studies 10,11 and 14 DMAs are trending down.
• Immediate resistance is located at 1.9046 ( 38.2%fib), any close above will push the pair towards 1.9090 (50%fib)
• Support is seen at 1.9011(5DMA ) and break below could take the pair towards 1.8979(23.6%fib).
Recommendation: Good to sell around 1.9040, with stop loss of 1.9120 and target price of 1.8950
