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FxWirePro: GBP/NZD getting back on track for a run towards 1.9200,good to buy on dips

Saturday, August 27, 2022 12:39 AM UTC

• GBP/NZD rose on Friday as the pair was lifted higher after Fed Jerome Powell's hawkish tone to battling inflation.

•U.S. Federal Reserve Chair Jerome Powell's comments at the Jackson Hole symposium came in line with expectations.

• Technicals highlight upside risks. The 10- and 21-day moving averages lend support, daily RSI is rising.

• Immediate resistance is located at 1.9145 ( Daily high), any close above will push the pair towards 1.9202 ( 50% fib).

• Immediate support is seen at 1.9100 (38.2%fib) and break below could take the pair towards 1.9048 (14DMA).

Recommendation: Good to buy around 1.9100, with stop loss of 1.9000 and target price of 1.9200.

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FxWirePro: GBP/NZD getting back on track for a run towards 1.9200,good to buy on dips

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