FxWirePro: GBP/NZD finds stiff resistance at 200W SMA at 1.98, break above to propel the pair higher

• GBP/NZD consolidates breakout at Triangle top, bias higher.
   
• The major trades with a bullish momentum, scope for test of 1.98 levels.
   
• RSI shows strength at 69 levels with room to run further. Stochs are highly bullish.
   
• We see +ve DMI dominance and ADX is rising which adds to bullish bias.
   
• The pair finds major resistance at 200W SMA at 1.9803, break above to accentuate gains.
   
• Markets await UK first quarter GDP release. GBP could spike if GDP betters estimates.
   
• On the flipside, retrace below Symmetric Triangle could see weakness till 1.9430. Bullish invalidation below 100-DMA at 1.9191.

Support levels - 1.9651 (5-DMA), 1.96 (Triangle top), 1.9428 (20-DMA)

Resistance levels - 1.9772 (Dec 8 high), 1.9803 (200W SMA), 1.9838 (Dec 1 high)

Call update: Our previous call (https://www.econotimes.com/FxWirePro-GBP-NZD-breaks-major-resistance-at-196-good-to-go-long-on-dips-1272840) is progressing well.

Recommendation: Hold for targets.

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