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FxWirePro: GBP/NZD repeatedly capped by a key fibo,bears set to regain control

• GBP/NZD recovered some ground on Wednesday as investors  digested   Federal Reserve   interest rates decision .

• The Federal Reserve kept interest rates steady but cautioned that rising inflation and labor market risks are clouding the U.S. economic outlook.

• Investors are now turning their attention to the Bank of England’s policy meeting, set for Thursday, awaiting clues on future interest rate decisions.

• GBP/NZD remains vulnerable, only a break and daily close above   at 2.2647 (Higher BB) will shift bias to the upside.

• Immediate resistance is located at 2.2513 (38.2%fib ), any close above will push the pair towards 2.2647 (Higher BB).

• Strong support is seen at 2.2187(23.6% fib) and break below could take the pair towards 2.2095 (Lower BB).

Recommendation: Good to sell on  around 2.2400, with stop loss of 2.2500and target price of 2.2100

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