\• GBP/NZD gained on Tuesday as GBP benefited from weaker New Zealand dollar, but gains were limited as investors squared positions ahead new year.
• GBP/NZD remains bullish, only a break and daily close above 38.2%fib will shift bias to the downside.
• Technicals are favouring bullish sentiment as RSI is at 63 and the pair is trading above 11 & 21-DMAs.
• Immediate resistance is located at 1.9767 (Higher BB ), any close above will push the pair towards 1.9791 (23.6%fib).
• Strong support is seen at 1.9687(38.2%fib) and break below could take the pair towards 1.9515 (50%fib).
Recommendation: Good to buy around 1.9700, with stop loss of 1.9600 and target price of 1.9760
