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FxWirePro: GBP/NZD claws back some ground, bulls set to regain control

• GBP/NZD initially dipped  on Wednesday  but recovered some ground after the Fed hiked rates and indicated more tightening ahead.

• GBP/NZD fell as far as 1.9173, and was last trading up 0.19% at 1.9281.

•  Technical signals are bullish as RSI is at 59, daily momentum studies  10,11 and 14 DMAs are trending up. 

• Immediate resistance is located at 1.9305 (Sep 14th high ), any close above will push the pair towards 1.9350 (23.6%fib).

• Strong support is seen at 1.9237 (38.2% fib) and break below could take the pair towards 1.9187 (9DMA).

Recommendation: Good to buy  around 1.9260, with stop loss of 1.9150 and target price of 1.9330
 

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