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•GBP/NZD dipped on Tuesday as kiwi dollar outperformed pound on increased risk appetite and higher commodity prices.
•GBP/NZD remains bullish, only a break and daily close below 2.0225 (9DMA) will shift bias to the downside.
•Technical signals are bearish as RSI bullsh at 73 , daily momentum studies 5, 9 and 11 DMAs are trending up.
•Immediate resistance is located at 2.0396 (5DMA ), any close above will push the pair towards 2.0487 (23.6%fib).
•Strong support is seen at 2.0396 (38.2%fib) and break below could take the pair towards 2.0260 (5DMA).
Recommendation: Good to buy around 2.0380, with stop loss of 2.0250 and target price of 2.0470
