FxWirePro: GBP/NZD maintains bullish bias with focus on 1.9200
• GBP/NZD rose on Tuesday as concerns of renewed COVID-19 pandemic lockdowns globally was offset by US fiscal stimulus optimism. • GBP/NZD hits 1.9165 after extending north from 1.9054 (Daily low). • Bulls are likely to …
• GBP/NZD rose on Tuesday as concerns of renewed COVID-19 pandemic lockdowns globally was offset by US fiscal stimulus optimism.
• GBP/NZD hits 1.9165 after extending north from 1.9054 (Daily low).
• Bulls are likely to remain in control above 1.9100 (Psychological level) and 1.9045 (5DMA).
• Technical signals are strongly bullish as RSI is higher at 60, moving averages are trending up.
• Immediate resistance is located at 1.9185 ( Bollinger Band), any close above will push the pair towards 1.9239 ( 23.6% fib).
• Immediate support is seen at 1.9042 (5DMA) and break below could take the pair towards 1.8984(38.2%fb).
Recommendation: Good to buy around 1.9050, with stop loss of 18868 and target price of 1.9200.
