• GBP/NZD gained on Tuesday as rapid roll out of vaccines in the UK continued to support pound.
• Also helping the pound has been the Bank of England, which has pushed back at market expectations of negative interest rates.
• GBP/NZD climbs above 1.9000 and holds near the day's high in US session. Close above 1.9106 ( 38.2%fib) to strengthen the bull bias further.
• Technicals 5, 10 & 21 daily moving averages, momentum studies edge higher.
• Immediate resistance is located at 1.9106 ( 38.2%fib), any close above will push the pair towards 1.9169 ( Ichimuko cloud top).
• Immediate support is seen at 1.8996 (38.2%fib) and break below could take the pair towards 1.8879 (61.8%fib).
Recommendation: Good to buy around 1.9050, with stop loss of 1.8900 and target price of 1.9180.
