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

• GBP/NZD initially dipped on Wednesday   but recovered ground as  investors  digested US presidential election results.

• At GMT 00:22, the pair was trading up 0.11 percent  at 2.1709 after reaching dailylow at 2.1598.

• Despite today’s marginal  pullback from high ,support at 2.1655 is holding,A close above   23.6%fib    eyes psychological level at 2.1900 level.

• Technicals leans bullish as RSI is at 61 bullish, and  9,11 and 14 DMA’s are trending up.

• Immediate resistance is located at 2.1798 (23.6%fib ), any close above will push the pair towards 2.1875 (Higher BB).

• Strong support is seen at 2.1655 (38.2% fib) and break below could take the pair towards 2.1538 (50% fib).

Recommendation: Good to buy  around 2.1700, with stop loss of 2.1600 and target price of 2.1780
 

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