• GBP/NZD retreated on Tuesday as currencies early gains evaporated after UK’s GDP data.
• GBP/NZD dipped near 1.9475, but losses were limited by demand near the 50% fib at 1.9451.
• GBP/NZD remains bullish , only a close back below 50%fib at 1.9451 , could upset the bullish order.
• Immediate resistance is located at 1.9573 (9DMA ), any close above will push the pair towards 1.9632 (38.2%fib).
• Strong support is seen at 1.9451 (50% fib) and break below could take the pair towards 1.9400 (Psychological level).
Recommendation: Good to buy around 1.9500, with stop loss of 1.9450 and target price of 1.9570
