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FxWirePro : GBP/NZD range bound in the short term, primary trend still higher


• GBP/NZD initially steadied on Monday but gains fizzled as risk-off sentiment added weight in a holiday thinned trade.

• Investor focus this week will be on U.S. consumer and producer inflation data, as well as the World Bank   spring meeting  in Washington.

• Technical are bullish, RSI is is trending higher, momentum studies, 5, 10 DMAs are trending  up.

• Immediate resistance is located at 1.9834 ( Daily high), any close above will push the pair towards 1.9994(23.6%fib).

• Support is seen at 1.9828( 38.2%fib)and break below could take the pair towards 1.9783  (14DMA).

Recommendation: Good to buy around 1.9890 with stop loss of 1.9800 and target price of 1.9950

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