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FxWirePro:GBP/NZD bears set to regain control after Tuesday's failure

• GBP/NZD dipped on Wednesday as weaker sterling and rally in equities and commodities  boosted   New Zealand dollar.

• GBP/NZD drifted back into negative territory on Wednesday. 1.9309 is low so far is  and it is hovering just above 38.2%fib into the US afternoon.

• A daily close below 38.2%fib will accelerate downtrend towards 1.9182 (23.66%fib).

• Technical signals  favours  bearish sentiment, RSI is has turned sharply lower and pair trades below 5,9  & 11-DMAs.

• Resistance is located at 1.9360( 5DMA) and at 1.9418(50%fib).

• Support is found at 1.9305 ( 38.2%fib) and at 1.9227 (Lower BB).

Recommendation: Good to sell   around 1.9330, with stop loss of 1.9410 and target price of 1.9220

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