• GBP/NZD declined on Wednesday as higher oil prices and signs of a global economic recovery from the coronavirus pandemic supported New Zealand dollar .
•The pair reaches 1.9794 after extending south from 1.9905 (early Asia high). 1.9794 is the lowest level since 17th June 2021.
• Technical signals show the pair could lose more ground in the short-term as RSI has turned lower, daily momentum studies 5, 9 DMAs are trending down.
• Immediate resistance is located at 1.9865(38.2%fib),any close above will push the pair towards 1.9960 (23.6 % fib ).
• Immediate support is seen at 1.9798 (50% fib) and break below could take the pair towards 1.9759 (14DMA ).
Recommendation: Good to sell around 1.9820, with stop loss of 1.9920 and target price of 1.9720


Major Pairs Action Bias: USDCAD and USDCHF Stand Out as Extremely Bullish While GBPUSD and NZDUSD Turn Extremely Bearish
FxWirePro: USD/ZAR retreats but trend is still bullish
JPY Action Bias: USDJPY Emerges as the Clear Bullish Pair to Watch Amid Mixed Crosses
FxWirePro: USD/JPY eases ahead of Fed decision , Intervention risks linger
FxWirePro: EUR/NZD up trend gains momentum but hurdles ahead
FxWirePro: USD/CAD runs out of steam but maintains bullish outlook
FxWirePro: GBP/NZD maintains bersish bias with focus on 2.2900 level
FxWirePro: AUD/USD dips after RBA Governor speech
FxWirePro: NZD/USD neutral in the near-term, scope for downward resumption
NZD/JPY Flatlines Near 94.60: Will Key Support Reignite the Uptrend?
FxWirePro: EUR/AUD outlook weaker on renewed downside pressure
FxWirePro: GBP/AUD gains some upside momentum but still bearish
FxWirePro: USD/ CNY remains soft ahead of Fed decision
FxWirePro: NZD/USD edges lower, remains on back foot
FxWirePro: AUD/USD falls after softer-than-expected Australian Q2 CPI
FxWirePro : USD/JPY holds relatively bid on 163 ahead Of FOMC,BoJ meetings 



