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• GBP/ NZD initially dipped on Tuesday but recovered some of the ground as buying demand continued near 2.0430 level.
• GBP/NZD has seen a 2.0529 -2.0394 range on Tuesday, it was last trading at 2.0439 .
• Technicals highlight upside risks. The 10- and 21-day moving averages lend support, daily RSI is bullish at 58.
• Immediate resistance is located at 2.0505 ( 5DMA), any close above will push the pair towards 1.8554 (Higher BB).
• Immediate support is seen at 2.0385 (38.2%fib) and break below could take the pair towards 2.0185 (50%fib).
Recommendation: Good to buy around 2.0430 , with stop loss of 2.0300 and target price of 2.0500
