FxWirePro :GBP/NZD uptrend falters, leaving 2.0866 as key support

• GBP/NZD dipped on Tuesday  as investors weighed up new political landscapes in Britain and France.

•The Labour party swept to power in a landslide in Thursday's election, promising stability after a volatile period that saw four Conservative Prime Ministers in five years.

• At GMT 16:59, the pair was trading down 0.83 percent  at 2.0885 after reaching daily low at 2.0961.

• Todays drop has put GBP/NZD back below 38.2%fib and has put the 50 %fib  support  back in play. 

• Immediate resistance is located at 2.0938 (38.2% fib), any close above will push the pair towards 2.1023 (23.6% fib)

• Support is seen at 2.0866 (50% fib) and break below could take the pair towards 2.0801 (61.8% fib).

Recommendation: Good to sell  around 2.0890, with stop loss of 2.1000 and target price of 2.0800