GBP/NZD Technical Analysis: Sellers aim for 1.8800 support-line after RBNZ

• GBP/NZD dropped more than 250 pips after the Reserve Bank of New Zealand (RBNZ) held its official cash rate (OCR) unchanged with no likely alterations during the year 2019 and 2020.
• Traders now await RBNZ Governor Adrian Orr’s press conference for fresh impetus.
• The four hour chart shows an upward sloping trend-line connecting January and February lows, at 1.0800, to be the next major support for the pair.
• Should the pair slides under 1.8800, 1.8600 and 1.8380 are likely following numbers to flash on bears’ radar.
• On the upside, a descending resistance-line at 1.9170 can keep limiting the pair’s immediate advances, a break of which may trigger the pair’s recovery towards 1.9300 and then to the January high near 1.9425.
• In case buyers’ dominate past-1.9425, the 61.8% Fibonacci expectation of its December – February moves, at 1.9560, gain market attention.

GBP/NZD 4-Hour chart