• GBP/NZD rose on Friday, building on the gains from the previous day, as the British pound was buoyed by favorable year-end seasonality.
• The pound's strength was driven by factors such as end-of-year portfolio rebalancing, thinner market liquidity, and overall optimism for the coming year.
. •GBP/NZD bullish have tightened their grip on this market,A break, daily close above 23.6% fib could accelerate further gains.
• Technical signals are bullish as RSI at 68, daily momentum studies 21, 30 and 50 DMA’s are trending up.
• Immediate resistance is located at 2.0235(23.6% fib), any close above will push the pair towards 2.0488 (Higher BB)
• Strong support is seen at 2.0218(38.2% fib)and break below could take the pair towards 2.2040 (50% fib).
Recommendation: Good to buy around 2.2250 with stop loss of 2.2100 and target price of 2.2350
