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FxWirePro:GBP/NZD consolidates around 1.9460, maintains bullish bias

• GBP/ NZD strengthened on Thursday   as sterling was boosted after Britain announced a 25% windfall tax on oil and gas producers' profits. 

• The pair currently is approaching resistance at 38.2%fib. A break above   will unmask 1.9600  level in the short term.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 54 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.9483 (38.2%fib), any close above will push the pair towards 1.9561(May 24th High).

• Support is seen at 1.9419(5DMA) and break below could take the pair towards 1.9291 (38.2%fib).

 Recommendation: Good to buy around 1. 9450, with stop loss of 1. 9360 and target price of 1. 9550
 

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