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FxWirePro: GBP/ NZD positions for another climb, eyes 1.9300 level

• GBP/NZD strengthened on Friday  as  traders clung to hopes that Britain will recover from economic slump despite weak UK GDP data .

• GBP/NZD remained relatively well bid as traders expect the UK's rapid vaccine rollout, and much-reduced Brexit overhang, to positively affect near-term UK growth and inflation. 

• Scope grows for an eventual retest of 1.9224 resistance ,a daily close above 1.9224 will accelerate bulls towards 1.9366 (23.6%fib)

• Technical are bullish, daily RSI is positive at 57, daily momentum studies 5,9  and 11 DMAs are trending up. 

• Immediate resistance is located at 1.9224 (50%fib ), any close above will push the pair towards 1.9300 (Psychological level).

• Strong support is seen at 1.9111 (50%fib) and break below could take the pair towards 1.9055 (21DMA).

Recommendation: Good to sell on  around 1.9150, with stop loss of 1.9000 and target price of 1.9280

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