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FxWirePro: GBP/NZD consolidating around 1.9490 bias is bullish

• GBP/NZD strengthened on Monday as surprise bounce in UK retail sales on Friday added to the upbeat mood.

• Investors  focus was on UK economic outlook with a closely-tracked business activity survey due out on Tuesday.

• Pair traded in   1.9505/1.9428 range and was last trading at 1.9489.

• Technical signals are bullish as RSI is at 54, daily momentum studies  5,9 and 10 DMAs are trending up.

•  Immediate resistance is located at 1.9526( 9DMA), any close above will push the pair towards 1.9657(23.6%fib)

• Strong  support is seen at 1.9428 (38.2%fib ) and break below could take the pair towards 1.9373  (30DMA).

Recommendation: Good to buy  around 1.9470, with stop loss of 1.9350 and target price of 1.9560.

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