FxWirePro: GBP/NZD holds below 1.9200 as Brexit deal clock ticks
Source: FxWire Pro - Technicals / 22 Nov 2020 11:41:38 America/New_York
• GBP/NZD dipped on Friday as never-ending Brexit transition talks weighed on pound.
• Brexit negotiating divide continues, with the EU optimistic a deal can be struck and the UK on the defensive seeking to protect its sovereignty .
•The cross pair is trading at 1.9119, hovering just shy of its recent low of 1.9093.
• Technicals are favouring bearish sentiment as RSI is at 40 and the pair is trading below 9, 11 & 21-DMAs.
• Immediate resistance is located at 1.9272 (38.2%fib), any close above will push the pair towards 1.9341 (21 DMA).
• Support is seen at 1.9045 (23.6%fib ) and break below could take the pair towards 1.8960 (Lower BB).
Recommendation: Good to sell around 1.9180, with stop loss of 1.9300 and target price of 1.9050
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