• GBP/NZD declined for the second day on Thursday as traders continued to bet on shorts.
• The pair is testing at support 1.8960 (38.2%fib). A close below will opens up 1.8850 level.
• Technical signals lean bearish as RSI is at 43, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.9116( 50% fib), any close above will push the pair towards 1.9170 (11 DMA).
• Strong support is seen at 1.8960 (38.2%fib) and break below could take the pair towards 1.8852 (lower BB).
Recommendation: Good to sell around 1.9020 with stop loss of 1.9116 and target price of 1.8950