FxWirePro: GBP/NZD beginning to trend higher but hurdle ahead

• GBP/NZD   strengthened on Tuesday on broad based weakness in New Zealand dollar but gains were limited on UK reopening uncertainties.

• Pair is caught in 1.9570/1.9750 range, on growing UK reopening uncertainties and  Brexit fears.

• GBP/NZD   remains range-bound as   risk to  pairs short term bullish outlook is posed by COVID-related disruption .

• Immediate resistance is located at 1.9683 ( 38.2%fib), any close above will push the pair towards 1.9755 ( 23.6% fib).

• Immediate support is seen at 1.9624 (50%fib) and break below could take the pair towards 1.9556(61.8%fib).

 Recommendation: Be on sidelines.