FxWirePro: GBP/NZD falls below 2.1000, bears keep the advantage

• GBP/NZD  dipped  on Tuesday  as   bears retained control ahead of RBNZ policy decision.

• It's widely expected that the Reserve Bank of New Zealand (RBNZ) will maintain the current interest rate at 5.5% 

• GBP/NZD  drops swiftly from 2.0994  . Break lower at 38.2% fib  risks run towards 2.0850 level.  

• Technical are bearish, daily RSI is  lower at 49, daily momentum studies  9 and 14 EMAs are trending down. 

• Immediate resistance is located at 2.0986 (Daily high), any close above will push the pair towards 2..1120 (23.6% fib).

• Strong support is seen at 2..0906 (38.2% fib)and break below could take the pair towards 2..0790 (March 15th low).

Recommendation: Good to sell    around 2.940, with stop loss of 2..1100, and target price of 2.0830