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FxWirePro: GBP/NZD gains some ground but outlook is bearish 
• GBP/NZD declined on Wednesday as sterling eased ahead of a Bank of England decision on interest rates.
• BOE is widely expected to keep rates unchanged. However, dovish bets have risen recently, with markets pricing in a first rate cut in August.
• GBP/NZD remains vulnerable, only a break and daily close above 50% fib will shift bias to the upside.
• Immediate resistance is located at 2.0886 (38.2% fib), any close above will push the pair towards 2.0934(50% fib).
• Strong support is seen at 2.0817 (23.6% fib) and break below could take the pair towards 2.0757(Lower BB).
Recommendation: Good to sell on around 2.0840, with stop loss of 2.0950 and target price of 2.0760
