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• GBP/NZD dipped on Friday as increased risk appetite and gains equity , commodity prices helped kiwi dollar.
•The price of oil, declined ahead of a meeting of OPEC and its allies this weekend while Dalian iron rose 3 percent underpinning kiwi dollar
• Price slides to 2.0541 from 2.0671 Daily high. The pair has seen a 130 pip range, on Friday
• Immediate resistance is located at 2.0716(23.6%fib), any close above will push the pair towards 2.0806(Higher BB)
• Strong support is seen at 2.0490(38.2% fib)and break below could take the pair towards 1.20394 (9DMA).
Recommendation: Good to sell around 2.0560, with stop loss of 2.0660 and target price of 2.0480
