FxWirePro: GBP/NZD uptrend looks tired, but continues to hold

• GBP/NZD strengthened on Monday   as expectations that the Bank of England could hike interest rates early next year gave some support to sterling.

• GBP/NZD rallies  away from 38.2%fib  but the rally stalls near 30EMA. A close above  50%fib would open the way for a run  towards 1.9642 (50DMA)

• Technical signals are bullish RSI implies upward shorter-term momentum is in place,while moving averages are tending higher 

• Immediate resistance is located at 1.9580( 50%fib), any close above will push the pair towards 1.9642 ( 50DMA).

• Strong support is seen at 1.9474 (38.2%fib) and break below could take the pair towards 1.9400(16th Sep low).

 Recommendation: Good to buy around 1.9530, with stop loss of 1.9400 and target price of 1.9600