• 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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