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FxWirePro: GBP/NZD neutral in the near-term, scope for downward resumption

• GBP/NZD initially gained on Monday but gains were limited as   traders turned wary of growing political uncertainty in Britain.

• Johnson's resignation has deepened uncertainty over the UK economy, which is already under pressure from near double-digit inflation, the risk of  recession and Brexit.

• At GMT 19:11, the pair was trading up 0.01 percent  at 1.9437 after reaching daily high at 1.9502.

• Technical signals are trending down as RSI is bearish  at 49, daily momentum studies  9 and 11 DMAs are trending down. 

• Immediate resistance is located at 1.0454 ( 9DMA), any close above will push the pair towards 1.9494 (50%  fib)

• Immediate support is seen at 1.9382 (38.2%  fib) and break below could take the pair towards 1.9292(Lower BB).

Recommendation: Good to sell around 1.9450, with stop loss of 1.5600 and target price of 1.9300

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