FxWirePro: GBP/NZD extends gains, faces 23.6% fib resistance
• GBP/NZD strengthened on Thursday as recent surge in UK employee numbers and weaker kiwi dollar supported British pound.
• The pair hit daily high at 1.9511 and was last trading at 1.9498 at (GMT 22:02).
• Investors attention turned to retail sales data on Friday and the outcome from the BoE's policy meeting next week.
• Technical signals are bullish as RSI is rising, daily momentum studies 5 and 9 DMAs are trending north.
• Immediate resistance is located at 1.9511 (23.6%fib ), any close above will push the pair towards 1.9537 (21DMA).
• Strong support is seen at 1.9458 (5DMA) and break below could take the pair towards 1.9432 (38.2% fib).
Recommendation: Good to buy on dips around 1.9480, with stop loss of 1.9400 and target price of 1.9550.