FxWirePro:GBP/NZD key resistance broken, door to 1.9400 open

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FxWirePro- GBPJPY Daily Outlook

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FxWirePro:GBP/NZD key resistance broken, door to 1.9400 open

Tuesday, December 7, 2021 10:44 PM UTC

• GBP/NZD dipped on Tuesday as increased risk appitite boosted kiwi dollars strength across the board.

• The pairs fall below the 1.9526 (50%fib) has increased the growing bearish strength, putting focus on support at 1.9400.

• Investors now await inflation data from the United States this week, with a readout from the US particular interest amid the Federal Reserve's hawkish signals about a speedier stimulus taper.

• Immediate resistance is located at 1.9503 (50% fib), any close above will push the pair towards 1.9541(5DMA)

• Strong support is seen at 1.9445 (14DMA)and break below could take the pair towards 1.9407(161.8%fib).

Recommendation: Good to sell around 1.9500, with stop loss of 1.9640 and target price of 1.9400

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