FxWirePro: GBP/NZD grinding higher as GBP benefits from vaccine rollout

• GBP/NZD   strengthened on Wednesday as Britain’s COVID-19 vaccine rollout offered support to the sterling. 

•Sterling is trending north despite Britain's poor performance in managing the coronavirus, with record deaths .

• GBP/NZD   rise has passed through the 50%  fibonacci retrace level at 1.9003 and now eyes 38.2% fib at 1.9112.

• Technical signals are bullish as RSI has turned higher sharply higher, moving averages are trending up. 

• Immediate resistance is located at 1.9112 ( 38.2%fib), any close above will push the pair towards 1.9189( Higher BB).

• Immediate support is seen at 1.9003 (50%fib) and break below could take the pair towards 1.8938 (30DMA).

 Recommendation: Good to buy around 1.9000, with stop loss of 1.8880 and target price of 1.9150.