• GBP/NZD dipped on Thursday as spiralling inflation fed into fears of a deep recession in Britain weighed on the pair.
• Investors are worried about the British economy's outlook, with a surge in energy prices in winter expected to squeeze consumer spending power further.
•Technical signals are bearish as RSI is at 42, daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.9015 (9DMA), any close above will push the pair towards 1.9064 (38.2%fib)
• Immediate support is seen at 1.8946 (23.6%fib ) and break below could take the pair towards 1.8849 (Lower BB).
Recommendation: Good to sell around 1.9000, with stop loss of 1.9100 and target price of 1.8880.
