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FxWirePro:GBP/NZD bulls lose traction as mixed signals sideline investorstech

• GBP/ NZD declined on Tuesday as risk appetite ebbed amid persistent worries about surging virus cases

• The pair fades to 1.8947 from   1.9070 after repeated failures to push above 1.9079 (38.2% fib)  discouraged longs.

• A close above 1.9091 ( 38.2% fib) is needed to put bulls in charge. Break of support 1.8974 (50% fib) might cause bears to come to market. 

• Technical signals are mixed as RSI is at 51, while 5, 9 DMAs are trending down. 

• Immediate resistance is located at 1.9050 (38.2% fib), any close above will push the pair towards 1.9168 (Jan 19th high).

• Immediate support is seen at 1.9083 (50% fib) and break below could take the pair towards 1.8970 (21DMA).

• Recommendation: Be on sidelines
 

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