FxWirePro:GBP/NZD drops below 1.9200 as bullish signals weaken

•GBP/ NZD initially gained on Wednesday but rally fizzled as  after data showed British public borrowing hit a record in November.

•British public borrowing unexpectedly jumped last month to hit its highest for any November on record, reflecting the mounting cost of energy subsidies, debt interest and the reversal of an increase in payroll taxes.

•Pound erased Tuesday’s gains against the kiwi dollar , the pair was last down  at 0.02% at  1.9192 

•Technical signals are mixed as RSI is at 46 bearish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 1.9314 ( 38.2% fib), any close above will push the pair towards 1.9373 (Higher BB).

• Immediate support is seen at 1.9146(5DMA) and break below could take the pair towards 1.9087 (23.6% fib).

Recommendation: Good to sell around 1.9190, with stop loss of 1.9270and target price of 1.9120