FxWirePro:GBP/NZD drops on Brexit uncertainty, scope for further downside
• GBP/AUD declined on Thursday as uncertainty over the outcome of Brexit talks weighed on pound.
• The is pair heading towards 1.8000(Psychological level), as near term direction of the pair is likely to be driven by current price action.
• Technical are bearish, daily RSI is negative at 46, daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.8190(50%fib ), any close above will push the pair towards 1.8212 (61.8% fib).
• Immediate support is seen at 1.8102 (38.2%fib) and break below could take the pair towards 1.8000 (23.6%fib).
Recommendation: Good to sell on around 1.8115, with stop loss of 1.8200 and target price of 1.7950