FxWirePro: GBP/NZD extends gains, faces strong hurdle at 1.9502 (23.6%fib)

• GBP/NZD rose on Thursday as  sterling continued its upward march supported by speedy UK’s rollout of COVID vaccines  .

• GBP/NZD rose 0.78% to  1.9399  , its highest level since Nov 9th, 2020.

 • Underlying trend for the pair remains strongly bullish. GBP/NZD eyes 1.3500 after rallying off 1.9253(Daily  low). 

• Immediate resistance is located at 1.9413 (Daily high), any close above will push the pair towards 1.9502 (23.6%fib).

• Strong support is seen at 1.9315 (38.2%fib) and break below could take the pair towards 1.9249 (5DMA).

Recommendation: Good to buy around 1.9380, with stop loss of 1.9200 and target price of 1.9510.