• Fxwirepro:gbp/nzd dips below 1.9200 as covid-19 impacts Brexit talks

    Source: FxWire Pro - Technicals / 22 Nov 2020 11:41:34   America/New_York

    • GBP/NZD dipped on Thursday as  Brexit uncertainty weighed on pound.

    • Direct talks were suspended after a member of the EU team tested positive for COVID-19 - but talks will continue in line with health guidelines.

    • Technicals are favouring bearish sentiment as RSI is at 41 and the pair is trading below   11 & 21-DMAs. 

    • Immediate resistance is located at 1.9281 (38.2%fib), any close above will push the pair towards 1.9341 (20 DMA).

    • Support is seen at 1.9038 (23.6%fib ) and break below could take the pair towards 1.8969 (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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