• GBP/NZD steadied on Wednesday as markets firmed as contagion fears waned.
• GBP/NZD gains near 23.6%fib,consolidation likely to continue while market seeks fresh factors..
• GBP/NZD has seen a 1.9610-1.9475 range on Wednesday, chart points to an overshoot above 1.9600.
• Technical signals are bullish as RSI at 59, moving averages are trending north.
• Immediate resistance is located at 1.9599 (38.2% fib), any close above will push the pair towards 1.9710 ( Higher BB).
• Immediate support is seen at 1.9481 (50%fib) and break below could take the pair towards 1.9405(20DMA).
Recommendation: Good to buy around 1.9560, with stop loss of 1.9480 and target price of 1.9650
