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FxWirePro:GBP/NZD consolidates above 1.9750 after early fall, maintains bullish bias

• GBP/NZD rose higher on Friday as solid demand on recent dips toward low 1.9634 helped inflate the pair towards 1.9788.

• GBP /NZD bulls have to contend with strong resistance at 1.9866 (23.6%fib). If GBP /NZD longs overcome that level, tests of 1.9900 (Psychological level) resistance is likely. 

• Technical signals show the pair could gain more ground in the short-term as RSI is at 67 bullish, daily momentum studies  5, 9   DMAs are trending higher. 

•Resistance Levels :  1.9866 (23.6%fib) , 1.9900 (Psychological level), 1.9982 (29th May high) 
      
• Support Levels: 1.9692 (38.2% fib), 1.9634(9 DMA), 1.9568( 50%fib)

Recommendation: Good to on dips around 1.9750, with stop loss of 1.9500 and target price of 1.9900
 

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