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.© FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.