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FxWirePro: GBP/NZD grinding higher as GBP benefits from hawkish BoE comments

• GBP/NZD  held above 1.9550 on Friday as sterling was aided by BoE rate hike steer.

• The pound rallied from 1.9460 to 1.9610, regaining above the 5-day moving average at 1.9518 and 50%fib at 1.9551. 

• Today's close above the 5-DMA has allowed bulls to consider another run at 1.9650 (38.2%fib), A close above would strengthen the pairs bullish hold further.

• Technical signals are bullish as RSI is at 60, daily momentum studies  5, 9 DMA’s are trending up. 

• Immediate resistance is located at 1.9650 (38.2%fib), any close above will push the pair towards 1.9700( Psychological level).

• Immediate  support is seen at 1.9551 (50%fib) and break below could take the pair towards 1.9518 (5DMA).

 Recommendation: Good to buy around 1.9560, with stop loss of 1.9460  and target price of 1.9620.
 

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