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

• GBP/NZD initially dipped on but recovered some ground on Tuesday   after  BoE reiterated that the central bank's stance on interest rates did not need changing.

• The pair is holding near today's high, but repeated failures to push above 38.2%fib  resistance is discouraging longs.

• Technical are bearish, daily RSI is negative at 49, daily momentum studies  11and 14 DMAs are trending down.

• Immediate resistance is located at 2.0750 (38.2%fib), any close above will push the pair towards 2.0763 (21DMA)

• Immediate support is seen at 2.0616  (23.6%fib ) and break below could take the pair towards 2.0566  (Nov 3rd low).

Recommendation: Good to sell  around  2.0750, with stop loss of  2.0860 and target price of  2.0680

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